Congressman Veasey Votes Against Harmful Financial Appropriations Bill

Washington, D.C.—Today, Congressman Marc Veasey, TX-33, voted against H.R. 5016, the Financial Services and General Government Appropriations Act, a Republican appropriations bill that would severely cut funding for critical agencies that combat fraud, waste, and abuse in our economy.

The drastic cuts would destabilize the work of the Securities and Exchange Commission (SEC), the agency in charge of regulating Wall Street, the Internal Revenue Service (IRS), and other agencies by more than $500 million. The IRS has stated such cuts would prevent them from collecting as much as $2 billion in tax revenue.

"At a time when our national debt has reached historic levels, Republicans have chosen to bring a bill to the floor that severely undermines our ability to collect tax revenue," Veasey stated. "Republicans have allowed their political agenda against the IRS to get in the way of the normal governance of our country."

In addition to severe budget cuts, the Republican Financial Services and General Government Appropriations Act, contains harmful policy riders that attempt to weaken the Affordable Care Act. The bill would prohibit the IRS from enforcing any portions of the President's healthcare law.

"Although it has been 4 years since the Affordable Care Act passed, 1 year since the Supreme Court upheld the law, and more than 50 votes have been taken in the House of Representatives to repeal the law, Republicans are continuing their crusade against providing Americans with health care coverage," said Veasey. "We are elected to Congress to govern and this bill represents Republicans' unwillingness to work with Democrats and properly take care of our country."