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FROM THE OFFICE OF PUBLIC AFFAIRS February 7, 2005 Proposed Treasury Budget for FY 2006 The President's proposed budget for the Department of Treasury in fiscal year 2006 funds the Department's ongoing commitment to promoting economic opportunity and ownership, to waging the financial war on terrorism and to striving for a more effective and efficient federal government. "The President's budget for Treasury reflects the Department's top priorities, such as ensuring America's economic strength and fighting the financial war on terror, while also demonstrating the fiscal responsibility necessary to reduce the deficit," said Treasury Secretary John W. Snow. The overall Treasury budget for FY 2006 is $11.648 billion, a 3.8 percent increase over the current appropriations for FY 2005. The budget requests $10.679 billion for the Internal Revenue Service, which includes an additional $500 million for IRS enforcement activities, representing a 7.8 percent increase in enforcement funding over FY 2005. The increase will provide additional resources to examine more tax returns, collect past due taxes and investigate cases of tax evasion. Treasury's budget reiterates the President's steadfast commitment to combating terrorist financing and safeguarding the U.S. financial system by providing over $118 million to support the financial war on terror and fight financial crime. A complete summary of Treasury's FY 2006 budget request can be viewed at www.treas.gov/offices/management/budget/. |
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