Department of the Treasury – Budget in Brief

Mandatory Funding Levels for the FY 2018 President’s Budget – Treasury Chapter

(Dollars in Millions, Includes Legislative Proposals)

Appropriations (Dollars in Millions) FY 2016 FY 2017

Actual Estimated Estimated $ Change % Change

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

Interest on Uninvested Funds 3 12 12 0 0.0%

Restitution of Forgone Interest 2,687 0 0 0 0.0%

Federal Interest Liabilities to States 0 1 1 0 0.0%

Interest Paid to Credit Financing Accounts 7,377 10,608 11,152 544 5.1%

Refunding Internal Revenue Collections, Interest 1,530 1,424 1,996 572 40.2%

Interest on Public Debt 429,963 474,506 505,577 31,071 6.5%

Other Interest (45,197) (47,267) (49,206) (1,939) 4.1%

INTEREST PAYMENTS $398,991 $441,912 $472,160 $30,248 6.8%

MANDATORY ACCOUNTS

Build America Bond Payments, Recovery Act 3,646 3,634 3,903 269 7.4%

Capital Magnet Fund, Community Development Financial Institutions 93 118 8 (110) -93.2%

Check Forgery Insurance Fund 9 10 10 0 0.0%

Cheyenne River Sioux Tribe Terrestrial Wildlife Habitat Restoration Trust Fund 1 1 1 0 0.0%

Claims, Judgments, and Relief Acts 4,795 2,255 2,255 0 0.0%

Community Development Financial Institutions Fund Program Account 5 1 0 (1) -100.0%

Comptroller of the Currency 1,170 1,133 1,228 95 8.4%

Continued Dumping and Subsidy Offset 53 40 40 0 0.0%

Exchange Stabilization Fund 55 57 80 23 40.4%

Federal Financing Bank 1,905 1,954 2,388 434 22.2%

Federal Reserve Bank Reimbursement Fund 496 580 586 6 1.0%

Financial Agent Services 726 792 800 8 1.0%

Financial Research Fund 104 87 68 (19) -21.8%

Fiscal Service 141 172 176 4 2.3%

Grants for Specified Energy Property in Lieu of Tax Credits, Recovery Act 126 978 300 (678) -69.3%

GSE Mortgage-backed Securities Purchase Program Account 3 3 2 (1) -33.3%

Gulf Coast Restoration Trust Fund 133 295 177 (118) -40.0%

Hope Reserve Fund 50 114 0 (114) -100.0%

Informant Payments 42 50 54 4 8.0%

Internal Revenue Collections for Puerto Rico 417 384 369 (15) -3.9%

IRS Miscellaneous Retained Fees 380 431 497 66 15.3%

Office of Financial Stability 153 107 83 (24) -22.4%

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

Payment to Issuer of New Clean Renewable Energy Bonds 38 37 40 3 8.1%

Payment to Issuer of Qualified Energy Conservation Bonds 36 36 39 3 8.3%

Payment to Issuer of Qualified School Construction Bonds 746 740 795 55 7.4%

Payment to Issuer of Qualified Zone Academy Bonds 58 58 62 4 6.9%

Payment Where Alternative Minimum Tax Credit Exceeds Liability for Tax 2 0 0 0 0.0%

Payment Where American Opportunity Credit Exceeds Liability for Tax 3,993 4,021 4,042 21 0.5%

Payment Where Certain Tax Credits Exceed Liability for Corporate Tax 108 857 856 (1) -0.1%

Payment Where Child Tax Credit Exceeds Liability for Tax 20,188 20,193 19,894 (299) -1.5%

Payment Where Earned Income Credit Exceeds Liability for Tax 60,580 60,943 61,083 140 0.2%

Payment Where Health Coverage Tax Credit Exceeds Liability for Tax 12 21 32 11 52.4%

Payment Where Small Business Health Insurance Tax Credit Exceeds Liability for Tax 15 16 14 (2) -12.5%

Presidential Election Campaign Fund 29 49 53 4 8.2%

Private Collection Agent Program 0 15 60 45 300.0%

Refundable Premium Tax Credit and Cost Sharing Reductions 30,827 40,129 42,930 2,801 7.0%

Reimbursements to Federal Reserve Banks 129 148 149 1 0.7%

Small Business Lending Fund Program Account 6 12 13 1 8.3%

Terrorism Insurance Program 2 48 133 85 177.1%

Travel Promotion Fund 93 93 0 (93) -100.0%

Treasury Forfeiture Fund (2,612) 1,390 1,385 (5) -0.4%

Troubled Asset Relief Program Account 548 10 0 (10) -100.0%

Troubled Asset Relief Program Equity Purchase Program 125 6 0 (6) -100.0%

Subtotal, MANDATORY ACCOUNTS $129,427 $142,019 $144,606 $2,587 1.8%

Offsets:

Treasury Mandatory Offsetting Receipts (17,649) (29,454) (23,413) 6,041 -20.5%

TOTAL, DEPARTMENT OF THE TREASURY $510,769 $554,477 $593,353 $38,876 7.0%

FY 2018
Department of the Treasury – Budget in Brief

Total Treasury Department Mandatory Budget

The Treasury Department Mandatory Budget 

includes $593 billion dollars in interest 

payments, mandatory accounts, and offsetting 

receipts (offsets). These accounts and the 

estimated budget authority are summarized 

above. Account totals include the effects of 

FY 2018 policy proposals. For more detailed 

descriptions of each account, please see the 

Department of the Treasury chapter in the 

FY 2018 Appendix, Budget of the U.S. 

Government at:

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

Interest Payments - $472 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 - $145 billion

These are accounts for which the Congress has 

given the Department of Treasury permanent 

authority to expend funds as appropriations.

These include appropriations that fund a 

number of programs under Treasury 

jurisdiction such as the Terrorism Risk 

Insurance Program and the Treasury 

Forfeiture Fund. 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 for Specified 

Energy Property. The Department is also a 

custodian for a number of government 

accounts and funds listed in this section and 

further detailed in the FY 2018 Appendix, 

Budget of the U.S. Government.

Offsetting Receipts - $23 billion

Offsets include payments to the Government 

that are not credited directly to expenditure 

accounts. These receipts offset gross budget 

authority and outlays at the agency or bureau 

level.

Treasury’s offsetting receipts 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).