Republicans Side with Billionaires and Big Corporations, Democrats Fight for Hardworking Americans

Republican Financial Services and General Government bill promotes corruption by billionaires and big corporations and leaves consumers vulnerable to scams, junk fees, and dangerous products. 

WASHINGTON — During today’s House Appropriations Committee markup of the 2026 Financial Services and General Government funding bill, House Democrats highlighted how the bill makes the cost-of-living crisis worse, sides with billionaires and big corporations, and makes communities less safe.

This bill:

• Promotes corruption by billionaires and large corporations by decimating tax enforcement and drastically underfunding the corporate watchdog that ensures markets are fair and protects investors from bad actors.
• Leaves consumers vulnerable to scams and predatory junk fees by cutting funding for the Federal Trade Commission, allowing greedy corporations to continue price gouging. These changes increase the cost of living for working class, middle class, and vulnerable Americans.
• Enables individuals to sell dangerous products and puts children at risk by cutting resources for the Consumer Product Safety Commission and including harmful extreme policies that side with big corporations over working Americans.
• Makes our elections less secure by cutting the funding for the Election Assistance Commission.
• Includes over 60 new, problematic, or pointless policy riders on topics such as the IRS Free File, consumer safety, and abortion. Additionally, instead of addressing the issues that matter most to the American people, House Republicans are micromanaging the District of Columbia’s health and traffic laws.

“This bill conveys the same message Republicans have been sending to the American people for years: 'you're on your own.' It advances Trump's occupation of Washington DC, makes it easier for millionaires and billionaires to get out of paying the taxes they legally owe, cuts funding for agencies that protect against financial crimes, and continues the Trump Administration's effort to traumatize federal workers,” Financial Services Appropriations Subcommittee Ranking Member Steny Hoyer (D-MD-05) said. “Meanwhile, Republicans sit on their hands as Trump and OMB Director Russell Vought try to turn the Appropriations Committee – and the entire Congress – into an irrelevant rubber stamp with their illegal pocket rescissions and impoundments."

Congressman Hoyer’s full remarks are here. 

“Americans are struggling with rising costs of everyday necessities. They live paycheck to paycheck. But the President and Republicans are not laser-focused on the cost-of-living crisis. In fact, with their 2026 Financial Services funding bill, House Republicans are making it worse,” Appropriations Committee Ranking Member Rosa DeLauro (D-CT-03) said. “This bill is meant to protect everyday American consumers, secure our elections, and make our economy work for hardworking people. Instead, Republicans have managed to keep resources for Russ Vought’s Office of Management and Budget steady and allow him to continue stealing from Americans without any check on his power, while cutting programs that keep children safe and protect senior citizens from scammers. This bill will hurt Americans while letting the biggest corporations price gouge and pay no taxes.”

Congresswoman DeLauro’s full remarks are here.

Democrats successfully fought to allow Deferred Action for Childhood Arrivals (DACA) recipients, also known as “Dreamers,” to work in the federal government through an amendment from Congressman Pete Aguilar (D-CA-33). A similar amendment offered by Congressman Aguilar was also included in the Legislative Branch funding bill, allowing DACA recipients to work in the Legislative Branch.

During today’s markup, Democrats fought to:

• Create an Office of Inspector General of the Office of Management and Budget, similar to the legislative measure passed twice on a bipartisan basis by the House in the 117th Congress including in the fiscal year 2023 National Defense Authorization Act.
• Prohibit the use of federal funds to financially benefit the President of the United States.
• Protect our elections by reversing House Republican cuts to Election Assistance Commission grants.
• Eliminate House Republicans’ rider that would prevent Americans from having the option of filing their taxes for free.
• Restore Internal Revenue Service (IRS) funding to ensure billionaires, big corporations, and tax cheats pay taxes.
• Strike Republican attacks on women’s health, including access to abortion.
• Force the release of the Epstein files.

House Republicans rejected these efforts to lower costs, protect children and families, and ensure billionaires and big corporations pay the taxes they owe.

A summary of the bill is here. A fact sheet is here. 

The text of the bill, before the adoption of amendments in full committee, is here. The bill report, before the adoption of amendments in full Committee, is here.

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