Secretary Scott Bessent's Statement Before the Appropriations Subcommittee on Financial Services and General Government

Chairman Hagerty, Ranking Member Reed, and members of the subcommittee—I am grateful to join you today. Treasury is committed to working with Congress to protect our nation’s financial system, spur job growth, and strengthen the economy.The Fiscal Year 2027 President’s Budget request for Treasury demonstrates our commitment to boosting growth, promoting efficiency within our agency, and targeting illicit actors that threaten our national security. Treasury’s budget request represents a 12 percent decrease from the enacted level, while still building on the success of fiscal year 2026 to continue strengthening the U.S. financial system. Along with managing our own discretionary budget, Treasury is charged with managing core financial functions and payment operations for the U.S. government.