Bill Overview
Title: Financial Services and General Government Appropriations Act, 2023
Description: This bill provides FY2023 appropriations for several federal departments and agencies, including the Department of the Treasury, the Executive Office of the President, the judiciary, the District of Columbia, and several independent agencies. The independent agencies funded in the bill include the Administrative Conference of the United States, the Consumer Product Safety Commission, the Election Assistance Commission, the Federal Communications Commission, the Federal Deposit Insurance Corporation, the Federal Election Commission, the Federal Labor Relations Authority, the Federal Permitting Improvement Steering Council, the Federal Trade Commission, the General Services Administration, the Harry S. Truman Scholarship Foundation, the Merit Systems Protection Board, the Morris K. Udall and Stewart L. Udall Foundation, the National Archives and Records Administration, the National Credit Union Administration, the Office of Government Ethics, the Office of Personnel Management, the Office of Special Counsel, the Privacy and Civil Liberties Oversight Board, the Public Buildings Reform Board, the Securities and Exchange Commission, the Selective Service System, the Small Business Administration, the U.S. Postal Service, and the U.S. Tax Court. The bill also sets forth requirements and restrictions for using funds provided by this and other appropriations acts.
Sponsors: Rep. Quigley, Mike [D-IL-5]
Target Audience
Population: People directly and indirectly impacted by Financial Services and Government Appropriations
Estimated Size: 330000000
- The bill provides funding for federal departments and agencies, affecting federal employees who work at these agencies.
- The legislation indirectly impacts all U.S. residents, as it concerns funding for mechanisms and services influencing national economic stability, communications, safety, and more.
- Individuals affiliated with independent agencies like the Consumer Product Safety Commission or the Federal Communications Commission may be directly impacted by projects, regulations, or resources allocated from this funding.
- Small business owners and their employees are particularly affected due to funding for the Small Business Administration.
- Changes in funding to the U.S. Postal Service impact all citizens through alterations in service logistics and capacity.
Reasoning
- The Financial Services and General Government Appropriations Act impacts a wide range of individuals and sectors due to its extensive funding for organizational functions and support.
- Individuals working directly for the federal government, particularly within the specified agencies, are directly influenced by changes in operating budgets resulting in possible changes in job security or resource availability.
- Small business owners can experience impacts due to the allocation of resources via the Small Business Administration for loans, counseling, and other support that can affect business viability and growth.
- Individuals depending on services such as the U.S. Postal Service might be impacted by funding alterations affecting service quality or coverage.
- Regulatory changes emanating from the funded agencies like the FCC, FTC, and others could impact overall consumer protection measures and financial regulations, indirectly impacting all U.S. residents.
Simulated Interviews
Federal Employee - Treasury (Washington D.C.)
Age: 45 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 6/20
Statement of Opinion:
- I believe this funding is crucial for the Treasury department as it ensures stability for our operations.
- The budgetary allocation can secure my job and provide additional resources for our projects.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 5 |
| Year 3 | 7 | 5 |
| Year 5 | 7 | 4 |
| Year 10 | 8 | 4 |
| Year 20 | 7 | 3 |
Small Business Owner (New York City, NY)
Age: 32 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 5/20
Statement of Opinion:
- Increased funding to the Small Business Administration can provide us with much-needed capital to grow.
- Access to more government contracts will greatly benefit our business.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 9 | 5 |
| Year 20 | 7 | 5 |
Retired (San Francisco, CA)
Age: 61 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 10.0 years
Commonness: 7/20
Statement of Opinion:
- I hope the funding to the USPS prevents service reduction.
- Continued reliable service is crucial, especially for older residents.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 4 |
| Year 2 | 5 | 4 |
| Year 3 | 5 | 3 |
| Year 5 | 6 | 3 |
| Year 10 | 6 | 3 |
| Year 20 | 5 | 3 |
Software Engineer (Atlanta, GA)
Age: 28 | Gender: male
Wellbeing Before Policy: 8
Duration of Impact: 3.0 years
Commonness: 10/20
Statement of Opinion:
- I'm curious about how any regulatory changes from increased funding to the FCC might impact tech industries.
- These funds could mean more oversight, which can be good or bad for us.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 7 | 6 |
| Year 20 | 6 | 6 |
Healthcare Worker (Houston, TX)
Age: 40 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 2.0 years
Commonness: 9/20
Statement of Opinion:
- Federal funding for health-related regulation could indirectly affect our clinic's operations through changes in product safety regulations.
- I am generally hopeful it will lead to better patient safety and care.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 6 | 5 |
| Year 10 | 6 | 5 |
| Year 20 | 5 | 4 |
Postal Service Worker (Chicago, IL)
Age: 54 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 20.0 years
Commonness: 4/20
Statement of Opinion:
- I am relieved that the USPS is getting the needed funds. It secures mail delivery and my job.
- This funding should stabilize operations, which is positive for the community and postal workers.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 6 |
| Year 2 | 9 | 5 |
| Year 3 | 9 | 4 |
| Year 5 | 9 | 4 |
| Year 10 | 9 | 3 |
| Year 20 | 8 | 2 |
Financial Advisor (Miami, FL)
Age: 48 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 8/20
Statement of Opinion:
- The funding ensures that regulatory bodies like the SEC work efficiently, ensuring market stability.
- This policy boosts confidence among investors and aligns with my work to guide clients effectively.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 8 | 5 |
| Year 10 | 7 | 5 |
| Year 20 | 7 | 4 |
Graduate Student (Boston, MA)
Age: 25 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 3.0 years
Commonness: 11/20
Statement of Opinion:
- Funding for government ethics oversight is important for accountability, something I'll study closely.
- Increased transparency and ethics in government benefit us all.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 6 | 6 |
| Year 10 | 6 | 5 |
| Year 20 | 6 | 5 |
Freelance Writer (Seattle, WA)
Age: 38 | Gender: other
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 8/20
Statement of Opinion:
- The allocation for the Privacy and Civil Liberties Oversight Board is crucial.
- There needs to be ongoing accountability and protection of privacy rights.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 6 |
| Year 3 | 8 | 5 |
| Year 5 | 9 | 5 |
| Year 10 | 9 | 4 |
| Year 20 | 8 | 4 |
Entrepreneur (Phoenix, AZ)
Age: 42 | Gender: male
Wellbeing Before Policy: 8
Duration of Impact: 7.0 years
Commonness: 5/20
Statement of Opinion:
- Funding that allows for innovation in federal services can positively impact commerce.
- Particularly interested in any advances in regulatory frameworks supporting logistics and delivery systems.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 9 | 6 |
| Year 3 | 9 | 6 |
| Year 5 | 9 | 5 |
| Year 10 | 8 | 5 |
| Year 20 | 7 | 5 |
Cost Estimates
Year 1: $130000000000 (Low: $125000000000, High: $135000000000)
Year 2: $132000000000 (Low: $127000000000, High: $137000000000)
Year 3: $134000000000 (Low: $129000000000, High: $139000000000)
Year 5: $137000000000 (Low: $132000000000, High: $142000000000)
Year 10: $145000000000 (Low: $140000000000, High: $150000000000)
Year 100: $200000000000 (Low: $190000000000, High: $210000000000)
Key Considerations
- The act is a comprehensive financial bill affecting multiple key governmental bodies, contributing to fundamental aspects of governmental functions.
- Short-term and long-term cost savings can emerge from improved efficiencies at funded agencies.
- Funding allocations directly influence the operational capacity and regulatory reach of funded agencies.
- Potential underspending or overspending relative to the authorized budgets should be monitored to assess real impact.