Mandatory Funding Levels for the FY 2013 President’s Budget – Treasury Chapter

Apprpriations (Dollars in Millions) FY 2011 FY 2012 FY 2013 Increase/ Increase/

Enacted Estimate Estimate Decrease Decrease

 Interest on Public Debt 454,015 450,335 472,040 21,705 4.8%

 Refunding Internal Revenue Collections, Interest 2,455 3,068 3,208 140 4.6%

 Interest on Uninvested Funds 15 12 12 0 0.0%

 Restitution of Forgone Interest 875 41 0 -41 -100.0%

 Interest Paid To Credit Financing Accounts 10,470 16,220 12,820 -3,400 -21.0%

 Federal Interest Liabilities to States 1 2 2 0 0.0%

 Payment to Resolution Funding Corporation 2,239 2,628 2,628 0 0.0%

 Subtotal, INTEREST PAYMENTS 470,070 $472,306 $490,710 18,404 3.9%

Other Interest -37,713 -$55,383 -57,665 -2,282 4.1%

INTEREST PAYMENTS: 432,357 416,923 433,045 $16,122 3.9%

MANDATORY ACCOUNTS:

 Terrorism Insurance Program 2 105 245 $140 133.3%

 GSE Mortgage-Backed Securities Purchase Program 7,918 154 17 -$137 -89.0%

 Office of Financial Stability 391 325 282 -$43 -13.2%

 Troubled Asset Relief Program (TARP) 1,556 7,858 0 -$7,858 -100.0%

 Troubled Asset Relief Program Equity Purchase Program 330 18,438 0 -$18,438 -100.0%

 Grants to States for Low-Income Housing Projects 136 0 0 $0 0.0%

 Grants for Specified Energy Property 3,823 5,800 1,705 -$4,095 -70.6%

 Small Business Lending Fund Program Account 334 26 26 $0 0.0%

 Community Development Financial Institution Fund Program Account 4 2 0 -$2 -100.0%

 Presidential Election Campaign Fund 40 37 34 -$3 -8.1%

 Financial Research Fund 21 123 158 $35 28.5%

 Treasury Forfeiture Fund 598 36 1,533 $1,497 4158.3%

 Federal Financing Bank 1 0 0 $0 0.0%

 Biomass Energy Development -7 -6 0 $6 0.0%

 Payment to the Cheyenne River Sioux Tribal Recovery Trust Fund 0 436 0 -$436 0.0%

 Fiscal Service 92 62 75 $13 21.0%

 Reimbursement to Federal Reserve Banks 124 119 107 -$12 -10.1%

 Financial Agent Services 623 645 610 -$35 -5.4%

 Payment to FRA for AMTRAK Debt Restructuring 52 309 59 -$250 -80.9%

 Federal Reserve Bank Reimbursement Fund 324 329 331 $2 0.6%

 Claims, Judgments and Relief Acts 2,290 5,915 816 -$5,099 -86.2%

 Check Forgery Insurance Fund 5 2 1 -$1 -50.0%

 Continued Dumping and Subsidy Offset 92 0 0 $0 0.0%

 Cheyenne River Sioux Tribe Terrestrial Wildlife Habitat Restoration 2 2 2 $0 0.0%

 Internal Revenue Collections for Puerto Rico 452 487 466 -$21 -4.3%

 Payment Where Recovery Rebate Exceeds Liability for Tax 1 0 0 $0 0.0%

 Payment Where Earned Income Credit Exceeds Liability for Tax 55,652 52,247 52,615 $368 0.7%

 Payment of Government Losses in Shipment 1 1 1 $0 0.0%

 Payment Where Child Credit Exceeds Liability for Tax 22,691 22,464 23,045 $581 2.6%

 Payment Where Health Coverage Tax Credit Exceeds Liability for Tax 185 192 189 -$3 -1.6%

 Payment where Alternative Minimum Tax Credit Exceeds Liability for Tax 458 200 75 -$125 -62.5%

 Payment where Tax Credit to Aid First-Time Homebuyers Exceeds Liability for Tax 2,185 315 0 -$315 -100.0%

 Payment where Certain Tax Credit Exceeds Liability for Corporate Tax 65 10 0 -$10 -100.0%

 Payment Where American Opportunity Credit Exceeds Liability for Tax 5,604 6,365 7,541 $1,176 100.0%

 Making Work Pay Tax Credit 13,905 500 0 -$500 -100.0%

 Build American Bond Payments, Recovery Act 3,597 3,456 3,958 $502 14.5%

 Payment Where COBRA Credit Exceeds Liability for Tax 2,191 193 0 -$193 -100.0%

 Payment Where Tax Credit for Certain Government Retirees Exceeds Liability for Tax 1 1 0 -$1 0.0%

 Payment to Issuer of Qualified Zone Academy Bonds 19 27 38 $11 40.7%

 Payment to Issuer of Qualified School Construction 349 744 820 $76 10.2%

 Payment to Issuer of New Clean Renewable Energy Bonds 11 21 24 $3 14.3%

 Payment to Issuer of Qualified Energy Conservation Bonds 9 33 32 -$1 -3.0%

 Payment Where Adoption Credit Exceeds Liability for Tax 719 537 355 -$182 -33.9%

 Payment Where Small Business Health Insurance Tax Credit Exceeds Liability for Tax 30 141 200 $59 41.8%

 Payment Where Specified Energy Property Credit Exceeds Liability for Tax 0 0 2,144 $2,144 0.0%

 Payment in Lieu of Tax Credit for New Jobs and Wage Increases 0 0 615 $615 0.0%

 Therapeutic Discovery Program Grants and Administration 962 8 0 -$8 -100.0%

 IRS Miscellaneous Retained Fees 296 327 331 $4 1.2%

 IRS Informant Payments 9 100 125 $25 25.0%

 Offsets:

 GSE Mortgage-Backed Securities Direct Loans, Negative Subsidies 0 -445 0 $445 -100.0%

 GSE, Mortgage-Backed Securities Direct Loans, Downward Reestimate -467 -7,598 0 $7,598 -100.0%

 Troubled Asset Relief Program, Negative Subsidies -1,444 -256 -45 $211 -82.4%

 Troubled Asset Relief Program, Downward Reestimates of Subsidies -60,355 -5,207 0 $5,207 -100.0%

 Proceeds, GSE Equity Related Transactions -15,588 -18,790 -21,690 -$2,900 15.4%

 Proceeds from Sale of Securities from the AIG Credit Facility 0 -4,035 -4,035 $0 0.0%

 Other Offsets -3,915 -3,199 -3,638 -$439 13.7%

 Subtotal Offsets: -81,769 -39,530 -29,408 $10,122 -25.6%

 Subtotal, MANDATORY ACCOUNTS $46,374 $89,556 $69,167 -$20,389 -22.8%

TOTAL, DEPARTMENT OF THE TREASURY $478,731 $506,479 $502,212 -$4,267 -0.8%
Total Treasury Department Mandatory Budget

The Treasury Department Mandatory Budget 

includes $502 billion dollars in interest 

payments, mandatory accounts, and offsetting 

collections (offsets). These accounts and the 

estimated budget authority are summarized 

above. Account totals include the effects of 

FY 2013 policy proposals. For more detailed 

descriptions of each account, please see the 

Department of the Treasury chapter in the FY 

2013 Appendix, Budget of the U.S. 

Government at:

http://www.whitehouse.gov/omb/budget.

Interest Payments - $433 billion

These are permanent, indefinite funds for 

interest payments. This includes Interest on 

the Public Debt, which consists of all interest 

paid on Treasury securities and sold to the 

public and to Federal Government trust Funds, 

revolving funds and deposit funds. Treasury 

interest payment accounts also consist of

Refunds on Internal Revenue Collections

interest, Interest on Uninvested Funds, Interest 

paid to Credit Financing Accounts, Federal 

Interest Liabilities to the States, and Payments

to the Resolution Funding Corporation.

Mandatory Accounts - $98 billion

These are accounts for which the Congress has 

given the Department of Treasury permanent 

authority to expend funds as appropriations.

These include permanent authority 

appropriations that fund a number of programs 

under Treasury jurisdiction such as the 

Terrorism Risk Insurance Program; the Small 

Business Lending Fund and the State Small 

Business Credit Initiative. This also includes 

programs run out of the Office of Financial 

Stability, including the Troubled Asset Relief 

Program (TARP). Other accounts that fall 

under mandatory programs include all Internal 

Revenue Service refundable tax credit 

accounts, certain user fees, and informant 

payments, as well as Grants to States for LowIncome Housing Projects and Grants for 

Specified Energy Property, and Therapeutic 

Discovery Program Grants. The Department is 

also a custodian for a number of government 

accounts and funds listed in this section and 

further detailed in the FY 2013 Appendix, 

Budget of the U.S. Government.

Offsetting Collections Payments - $29 

billion

Offsets collections include payments to the 

Government that, by law, are credited directly 

to expenditure accounts and deducted from 

gross budget authority and outlays of the 

expenditure account.

Treasury’s Offsetting Collections accounts 

include the non-budgetary accounts that

record all cash flows to and from the 

Government resulting from direct loans 

obligated in 2008 and beyond (including 

modifications of direct loans that resulted 

from obligations in any year).