Quigley Statement on President Biden’s FY22 Budget Request
Today, U.S. Representative Mike Quigley (IL-05), Chairman of the Appropriations Committee’s Financial Services and General Government Subcommittee (FSGG), released the following statement following the release of President Joe Biden’s fiscal year 2022 discretionary funding request, which is aimed at reversing decades of disinvestment by prioritizing initiatives that will help working families and the vulnerable.
“The coronavirus pandemic and economic crisis has made the serious obstacles faced by Americans in Illinois and across the country even more apparent. President Biden’s funding request takes important steps to meet the needs of the people and set our nation on course for a better, more resilient future,” Quigley said. “As Chair of the Financial Services and General Government Subcommittee, I look forward to working with President Biden and my colleagues to fund critical priorities that will make a difference for our country.”
Quigley specifically highlighted portions of President Biden’s budget related to his FSGG subcommittee, including:
- Small Business Administration/Climate Change: $10 million to help facilitate access to capital for investments that would help small businesses become more resilient to climate change and/or support the clean energy economy.
- Internal Revenue Service: $13.2 billion for the IRS, an increase of $1.2 billion or 10.4 percent above FY21, to increase oversight of high-income and corporate tax returns to ensure compliance, and to improve customer service and online tools for taxpayers.
- Community Development Financial Institutions (CDFI): $330 million for CDFI, an increase of 22.2 percent above FY 21, to support expanding the role of CDFIs in American communities through loans to start-ups and small businesses and promoting the production of affordable housing and community revitalization projects.
Since 2011, austere budget caps imposed by the Budget Control Act have limited the amount of funding that Congress can provide for critical needs. With the budget caps expiring this year, Congress can finally provide long-overdue funding increases for important initiatives.
Among its many important proposals, President Biden’s budget blueprint invests in:
- Healthier communities: Addresses crises exacerbated by the pandemic with $1.6 billion for mental health – double last year’s funding – and $200 million for maternal health.
- Public health and medical research: Strengthens the nation’s public health infrastructure with a record $8.7 billion for the Centers for Disease Control and Prevention, $6.5 billion for ARPA-H – a new lifesaving medical research initiative, and $10.7 billion for opioid prevention and treatment.
- Housing: Expands vital Housing Choice Vouchers to 200,000 more families and expands Homeless Assistance Grants to support more than 100,000 additional households, helping solve the nation’s housing crisis.
- Safer neighborhoods: Fosters safer communities by providing $209 million in civil rights enforcement, $1 billion for gender-based violence prevention, and $2.1 billion for gun violence prevention to foster safer communities.
- Action on climate: A whole-of-government approach that will help protect our environment for future generations, with a $14 billion increase over last year.
- Infrastructure: Rebuilds crumbling infrastructure with increased funding for roads and bridges, transit systems, and water systems.
The President’s budget request is the first phase of the appropriations process. In the coming months, Quigley will lead budget review hearings and write an appropriations bill for the Financial Services and General Government Subcommittee. Later in the year, the legislation will be considered by the Appropriations Committee and the full House.