House lawmakers Friday passed a $1 trillion appropriations bill that would trim nearly $2 billion from the U.S. Treasury Department's proposed budget, if approved by the Senate. Passed by a vote of 296-121, Friday's measure sets aside a total of $12.2 billion for the Treasury Department, nearly $882 million below last year's spending level. Despite proposed cuts to the budget of the Financial Crimes Enforcement Network (FinCEN), the bureau would retain the $110 million spending level it operated under in fiscal year 2011. The bill, which could be approved by the Senate as soon as Friday, also includes $11.8 billion...
Law enforcement agencies and other government officials may find it harder to attend industry conferences in the coming year following allegations of wasteful spending at the General Services Administration, say sources.
As many federal agencies have watched their budgets and staffs shrink or remain static in recent years, the U.S. Treasury Department office charged with researching economic sanctions has seen something rare: growth.
Possible budget cuts for the U.S. financial intelligence unit are spurring concerns that the bureau may curtail its funding of the Internal Revenue Service's anti-money laundering examinations, say current and former federal officials.
Planned budget cuts that would limit cooperation between regional investigators and the U.S. Treasury Department's financial intelligence unit would be nixed under the latest congressional appropriations bill.
A proposed funding cut that would restrict some governmental access to a U.S. Bank Secrecy Act database could also make it harder for state examiners to vet banks and money services businesses, say critics of the plan.