Financial Services and General Government Appropriations Act, 2026
Sponsored By: Senator Bill Hagerty
Introduced
Summary
Sets FY2026 funding and policy priorities for Treasury, the IRS, community finance programs, and DC services. The bill would allocate money for tax administration, financial crime fighting, community lenders, and District of Columbia tuition and public safety programs while attaching many policy limits and reporting rules.
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Bill Overview
Analyzed Economic Effects
17 provisions identified: 8 benefits, 3 costs, 6 mixed.
Limits on IRS targeting and privacy
If enacted, the bill would bar the IRS from using funds in FY2026 to target people for exercising First Amendment rights or to target groups based on ideological beliefs. It would also bar use of funds that violate the tax code rule protecting tax return confidentiality (IRC 6103).
Contraceptive coverage in contracts
If enacted, the bill would bar the government from entering or renewing federal contracts with prescription drug coverage unless the plan also covers contraceptives. Named religious plans and carriers objecting on religious grounds are exempt. The rule would not require abortion coverage and would protect people who refuse to provide contraceptives for religious reasons.
Extra SBA funds and flexibility
If enacted, the bill would give the Small Business Administration an extra $109,973,000 for small business development and related activities. The SBA would also be allowed to move up to 5% of any SBA appropriation between accounts. No single account could be increased by more than 10% from such transfers, and transfers would follow reprogramming rules.
Stricter rules for awards and grantees
If enacted, the bill would stop agencies from giving federal contracts, grants, loans, or guarantees to corporations convicted of a federal felony in the prior 24 months or with certain unpaid federal tax debts, unless the agency finds suspension or debarment unnecessary. It would also block agency funding for gag clauses that stop reporting fraud, ban grant money for conferences unrelated to program purposes, and treat named nonfederal recipients as federal awardees for records and GAO access.
Exemption for Long Bridge rail project
If enacted, the bill would say that a specific statute (Section 244) does not apply to railroads installed under the defined Long Bridge Project. The project covers a new Long Bridge next to the existing bridge, plus related rail, bike, and pedestrian infrastructure between D.C. and Virginia.
Limits on D.C. paid abortion services
If enacted, the bill would bar the District of Columbia government from spending its funds on abortion services except when the mother's life is at risk or the pregnancy results from rape or incest. This rule would take effect upon enactment and could raise out-of-pocket costs for people who lose D.C.-funded coverage.
Caps on prevailing-rate federal pay
If enacted, the bill would limit pay increases for prevailing-rate federal employees for service after Sept. 30, 2025. During the transition their pay may not exceed prior wage schedule rates. For the rest of FY2026, increases from a wage survey would be capped by a formula tied to GS adjustments and changes in average locality pay. OPM may allow exceptions for recruitment or retention.
Drug policy and needle distribution limits
If enacted, the bill would bar federal funds in this Act from being used to legalize or reduce penalties for Schedule I drugs and would prohibit D.C. from using these funds to legalize recreational THC. It would also bar federal funding for needle or syringe distribution at locations that local public health or law enforcement have deemed inappropriate.
IRS service, hiring, and checks
If enacted, the bill would fund improvements to the IRS 1-800 help line and require training on taxpayer rights and courtesy. It would let Treasury use direct-hire authority to clear tax return backlogs and require the IRS to confirm employer address changes and consider offers-in-compromise from payroll-fraud victims. At the same time, IRS bonuses and rehiring could be withheld unless programs consider conduct and federal tax compliance.
District of Columbia funding rules
If enacted, the bill would let D.C. spend local funds during certain continuing resolutions and use council-approved FY2027 budget rates as interim funding when no regular appropriation exists. It would let D.C. move some operating money into capital and reprogram certain local funds, require the CFO to submit revised FY2026 budgets in 30 days, allow D.C. to pay refunds and judgments from applicable funds, and bar federal money from funding D.C. efforts to seek voting representation or to pay for hypothetical D.C. congressional offices. The bill would also restrict official D.C. vehicle use to mainly official duties with a few exceptions.
Product safety and privacy limits
If enacted, the bill would bar the CPSC from using FY2026 funds to ban gas stoves as a product class and would stop funds for finalizing a recreational off-highway vehicle safety standard until a National Academy of Sciences study is done. It would also bar federal agencies from using funds to collect personal tracking data about federal website users and prevent FCC use of these funds to adopt a 2004 single-connection change, while extending a related suspension date to Dec. 31, 2026.
Freeze 501(c)(4) nonprofit rules
If enacted, the bill would bar Treasury and the IRS from issuing new broad guidance on 501(c)(4) social welfare organizations in FY2026. It would require using the definitions and standard that were in effect on January 1, 2010 to decide 501(c)(4) status for new and existing groups.
Tighter agency budget and transfers
If enacted, the bill would limit agencies' ability to move money across accounts in FY2026. It would bar many reprogrammings and require committee approval for large shifts (for example, no reprogramming above $3,000,000 or 10%, and personnel increases of 20% need approval). It would cap some transfers (no more than 5% for some IRS moves) and let Treasury and SBA move small shares (up to 5% and 3% respectively) into IT funds with committee signoff. Some carried-over salary funds would also be limited to 50% into FY2027.
Stronger IRS taxpayer privacy rules
If enacted, the bill would require the IRS to adopt and follow rules that protect taxpayer information and reduce identity theft risk. These rules would take effect upon enactment. The change creates agency duties rather than individual payments.
Whistleblower protections for federal staff
If enacted, agencies could not use nondisclosure forms that say employees cannot report classified information or talk to Congress. Forms would need language saying they do not override whistleblower rights. Intelligence-related agreements can be tailored but must still protect authorized disclosures.
Agency funding for BLM land surveys
If enacted, the bill would let federal agencies transfer FY2026 funds to the Bureau of Land Management to pay for cadastral surveys they request. Transferred money would remain available to BLM until spent. Any leftover funds would be returned to the original account after the BLM files the survey record.
Treasury transfers to Debt Collection Fund
If enacted, the Secretary of the Treasury would be able to transfer money from the Bureau of the Fiscal Service salaries account into the Debt Collection Fund to cover debt collection costs. Any amounts transferred would have to be reimbursed from future debt collections.
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Sponsors & CoSponsors
Sponsor
Bill Hagerty
TN • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
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