Mandatory Funding Levels for the FY 2017 President’s Budget—Treasury Chapter

(Dollars in Millions, includes Legislative Proposals)

Appropriations (Dollars in Millions) FY 2015 FY 2016

Actual Estimated Estimated $ Change % Change

Restoration of Lost Interest, Medicare Trust Funds $251 $0 $0 $0 0.0%

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

Interest on Uninvested Funds 30 30 30 0 0.0%

Restitution of Forgone Interest 0 1,717 0 (1,717) -100.0%

Federal Interest Liabilities to States 1 2 2 0 0.0%

Interest Paid to Credit Financing Accounts 8,115 14,855 16,260 1,405 9.5%

Refunding Internal Revenue Collections, Interest 1,061 1,309 1,680 371 28.3%

Interest on Public Debt 402,184 447,293 511,659 64,366 14.4%

Other Interest (41,789) (62,702) (68,146) (5,444) 8.7%

INTEREST PAYMENTS $372,481 $405,132 $464,113 $58,981 14.6%

MANDATORY ACCOUNTS

Allotment for Puerto Rico EITC Payments 0 0 6,642 6,642 0.0%

America Fast Forward Bonds 0 0 288 288 0.0%

Build America Bond Payments, Recovery Act 3,499 3,518 3,775 257 7.3%

Capital Magnet Fund, Community Development Financial Institutions 0 91 80 (11) -12.1%

Check Forgery Insurance Fund 14 16 16 0 0.0%

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

Claims, Judgments, and Relief Acts 2,436 1,330 928 (402) -30.2%

Community Development Financial Institutions Fund Program Account 2 5 0 (5) -100.0%

Comptroller of the Currency 1,593 1,081 1,134 53 4.9%

Continued Dumping and Subsidy Offset 105 57 49 (8) -14.0%

Enforcement, IRS 8 0 0 0 0.0%

Exchange Stabilization Fund 39 50 73 23 46.0%

Federal Financing Bank 2,591 2,294 2,164 (130) -5.7%

Federal Reserve Bank Reimbursement Fund 469 524 529 5 1.0%

Federal Tax Lien Revolving Fund 0 1 1 0 0.0%

Financial Agent Services 627 713 676 (37) -5.2%

Financial Innovation for Working Families Fund 0 0 100 100 0.0%

Financial Research Fund 94 113 131 18 15.9%

Financing America's Infrastructure Renewal (FAIR) Program 0 0 2 2 0.0%

Fiscal Service 151 139 166 27 19.4%

Grants for Specified Energy Property in Lieu of Tax Credits, Recovery Act 1,959 1,118 650 (468) -41.9%

GSE Mortgage-Backed Securities Purchase Program Account 178 3 3 0 0.0%

Gulf Coast Restoration Trust Fund 175 132 178 46 34.8%

Hope Reserve Fund 0 87 70 (17) -19.5%

Informant Payments 71 63 63 0 0.0%

Internal Revenue Collections for Puerto Rico 343 403 372 (31) -7.7%

IRS Miscellaneous Retained Fees 391 411 404 (7) -1.7%

Office of Financial Stability 182 148 127 (21) -14.2%

Pay for Success 0 0 300 300 0.0%

Payment in Lieu of Tax Credits for Promise Zones 0 0 27 27 0.0%

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

Payment to Issuer of New Clean Renewable Energy Bonds 29 29 31 2 6.9%

Payment to Issuer of Qualified Energy Conservation Bonds 34 34 37 3 8.8%

Payment to Issuer of Qualified School Construction Bonds 643 646 693 47 7.3%

Payment to Issuer of Qualified Zone Academy Bonds 52 52 56 4 7.7%

Payment Where Adoption Credit Exceeds Liability for Tax 16 1 0 (1) -100.0%

Payment Where Alternative Minimum Tax Credit Exceeds Liability for Tax 7 5 1 (4) -80.0%

Payment Where American Opportunity Credit Exceeds Liability for Tax 4,153 4,398 4,308 (90) -2.0%

Payment Where Certain Tax Credits Exceed Liability for Corporate Tax 152 198 3,388 3,190 1611.1%

Payment Where Child Tax Credit Exceeds Liability for Tax 20,592 21,627 21,579 (48) -0.2%

Payment Where Earned Income Credit Exceeds Liability for Tax 60,084 61,381 62,211 830 1.4%

Payment Where Health Coverage Tax Credit Exceeds Liability for Tax 0 6 21 15 250.0%

Payment Where Small Business Health Insurance Tax Credit Exceeds Liability for Tax 38 59 80 21 35.6%

Payment Where Specified Energy Property Credit Exceeds Liability for Tax 0 0 58 58 0.0%

Presidential Election Campaign Fund 30 49 53 4 8.2%

Provide a Carbon Dioxide Investment and Sequestration Credit 0 0 0 0 0.0%

Refundable Premium Tax Credit and Cost Sharing Reductions 30,058 39,285 57,700 18,415 46.9%

Reimbursements to Federal Reserve Banks 122 137 138 1 0.7%

Small Business Lending Fund Program Account 31 14 13 (1) -7.1%

State Small Business Credit Initiative 1 0 1,500 1,500 0.0%

Terrorism Insurance Program 2 88 233 145 164.8%

Travel Promotion Fund 93 93 100 7 7.5%

Treasury Forfeiture Fund 4,252 (2,982) 1,387 4,369 -146.5%

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

Troubled Asset Relief Program Equity Purchase Program 3 100 0 (100) -100.0%

Troubled Asset Relief Program, Housing Programs 40 0 0 0 0.0%

Yankton Sioux Tribe Development Trust Fund 2 0 0 0 0.0%

Subtotal, MANDATORY ACCOUNTS $135,363 $138,067 $172,537 $34,470 25.0%

Offsets:

Treasury Mandatory Offsetting Receipts (26,857) (21,825) (23,935) (2,110) 9.7%

TOTAL, DEPARTMENT OF THE TREASURY $480,987 $521,374 $612,715 $91,341 17.5%

FY 2017
Total Treasury Department Mandatory Budget

The Treasury Department Mandatory Budget 

includes $613 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 2017 policy proposals. For more detailed 

descriptions of each account, please see the 

Department of the Treasury chapter in the 

FY 2017 Appendix, Budget of the U.S. 

Government at:

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

Interest Payments - $464 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 - $173 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 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 2017 Appendix, 

Budget of the U.S. Government.

Offsetting Collections Payments - $24

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).