Financial Services

Thank you Chairman Crenshaw. I'd like to join you in welcoming Secretary Lew before the subcommittee for the second time. You lead a Department with a variety of missions important to our economy, our government, and our nation as a whole.

Congresswoman Nita Lowey (D-NY), Ranking Democrat on the House Appropriations Committee, today issued the following statement on President Obama's FY 2015 budget request:

"The FY2015 budget and appropriations process offers Congress its best opportunity in years to reject the politics of brinkmanship and crisis management, and instead fulfill our responsibility to invest in our future, create and protect jobs, and support services on which American families rely.

Thank you Mr. Chairman. I would also like to welcome new Internal Revenue Service Commissioner John Koskinen for his first hearing before the subcommittee. I thank you for your service to our nation, and for undertaking this endeavor at a very challenging time for the IRS.

2013 enacted level: $21.25 billion

2014 Committee mark: $17.0 billion

2014 Omnibus: $21.85 billion

· $11.9 billion for the Department of the Treasury, which is $301 million less than the 2013 enacted level.

· $11.3 billion for the Internal Revenue Service (IRS), which is $503 million less than the 2013 enacted level.