Press Releases

Washington, DC—March 21, 2024…Chairman Steve Womack (AR-3) held the first House Appropriations Subcommittee on Financial Services and General Government (FSGG) hearing of the year on President Biden’s Fiscal Year 2025 budget request and the economic outlook of the nation. The subcommittee received testimony from Treasury Secretary Janet Yellen, Office of Management and Budget (OMB) Director Shalanda Young, and Council of Economic Advisers (CEA) Chair Jared Bernstein.

Chairman Womack said, "Reckless spending and sweeping regulatory expansion by the Biden Administration has plummeted our country into economic turmoil. Americans are paying more for almost everything, and our national debt is soaring. Small businesses, banks, and taxpayers are suffocating under the burdensome regulations. I made it clear today that the Administration's FY25 budget proposal will only further accelerate our unsustainable fiscal trajectory. We're looking hard at President Biden's budget request. We will find responsible solutions to cut bureaucratic red tape and reduce spending."

Chairman Womack’s opening statement as prepared can be found here, and a recording of the hearing can be found here.