Mandatory Funding Levels for the FY 2014 President’s Budget – Treasury Chapter

Apprpriations (Dollars in Millions) FY 2012 FY 2013 FY 2014

Enacted Estimated Estimated $ Change % Change

 Refunding Internal Revenue Collections, Interest 2,680 3,088 3,345 665 24.8%

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

 Interest on Uninvested Funds 21 24 24 3 14.3%

 Restitution of Forgone Interest 59 20 0 -59 -100.0%

 Federal Interest Liabilities to States 1 2 2 1 100.0%

 Interest Paid To Credit Financing Accounts 9,929 11,902 13,317 3,388 34.1%

 Interest on Public Debt 359,241 420,611 417,959 58,718 16.3%

 Other Interest -38,729 -$50,766 -56,130 -17,401 44.9%

INTEREST PAYMENTS: $335,830 $387,509 $381,145 $45,315 13.5%

MANDATORY ACCOUNTS:

 Terrorism Insurance Program 1 108 253 $252 25200.0%

 GSE Preferred Stock Purchase Agreements 0 53,366 0 $0 0.0%

 GSE Mortgage-Backed Securities Purchase Program 158 548 10 -$148 -93.7%

 Office of Financial Stability 323 306 201 -$122 -37.8%

 Troubled Asset Relief Program (TARP) 7,858 43 0 -$7,858 -100.0%

 Troubled Asset Relief Program Equity Purchase Program 19,412 441 0 -$19,412 -100.0%

 Grants for Specified Energy Property 5,376 8,080 4,710 -$666 -12.4%

 Small Business Lending Fund Program Account 22 58 20 -$2 -9.1%

 Community Development Financial Institution Fund Program Account 1 1 0 -$1 -100.0%

 Presidential Election Campaign Fund 38 35 33 -$5 -13.2%

 Financial Research Fund 168 51 113 -$55 -32.7%

 Treasury Forfeiture Fund - 4 2,833 1,544 $1,548 -38700.0%

 Biomass Energy Development - 1 0 0 $1 -100.0%

 Fiscal Service 97 74 89 -$8 -8.2%

 Reimbursement to Federal Reserve Banks 117 113 110 -$7 -6.0%

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

 Financial Agent Services 645 655 636 -$9 -1.4%

 Payment to the Cheyenne River Sioux Tribal Development Trust Fund 436 0 0 -$436 -100.0%

 Payment to FRA for AMTRAK Debt Restructuring 310 57 0 -$310 -100.0%

 Federal Reserve Bank Reimbursement Fund 352 331 395 $43 12.2%

 Payment to the Santee Sioux Tribe Development Trust Fund 0 0 7

$7 0.0%

 Payment to the Yankton Sioux Tribe Development Trust Fund 0 0 32 $32 0.0%

 Claims, Judgments and Relief Acts 3,480 4,268 2,340 -$1,140 -32.8%

 Check Forgery Insurance Fund 0 2 2 $2 0.0%

 Continued Dumping and Subsidy Offset 125 100 100 -$25 -20.0%

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

 Cheyenne River Sioux Tribal Recovery Trust Fund 436 0 0 -$436 -100.0%

 Gulf Coast Restoration Trust Fund 0 320 320 $320 0.0%

 Santee Sioux Tribe Development Trust Fund 0 0 2 $2 0.0%

 Yankton Sioux Tribe Development Trust Fund 0 0 9 $9 0.0%

 Internal Revenue Collections for Puerto Rico 376 616 433 $57 15.2%

 Payment W here Earned Income Credit Exceeds Liability for Tax 54,890 55,123 55,602 $712 1.3%

 Payment W here Child Credit Exceeds Liability for Tax 22,106 23,061 25,119 $3,013 13.6%

 Payment W here Health Coverage Tax Credit Exceeds Liability for Tax 131 120 32 -$99 -75.6%

 Payment where Alternative Minimum Tax Credit Exceeds Liability for Tax 205 90 30 -$175 -85.4%

 Payment where Tax Credit to Aid First-Time Homebuyers Exceeds Liability for Tax 51 10 0 -$51 -100.0%

 Payment where Certain Tax Credit Exceeds Liability for Corporate Tax 101 15 0 -$101 -100.0%

 Payment W here American Opportunity Credit Exceeds Liability for Tax 5,549 7,236 7,449 $1,900 34.2%

 Making W ork Pay Tax Credit 253 30 0 -$253 -100.0%

 Build American Bond Payments, Recovery Act 3,749 4,334 4,334 $585 15.6%

 Payment W here COBRA Credit Exceeds Liability for Tax 192 10 0 -$192 -100.0%

 Payment to Issuer of Qualified Zone Academy Bonds 40 38 38 -$2 -5.0%

 Payment to Issuer of Qualified School Construction 634 820 820 $186 29.3%

 Payment to Issuer of New Clean Renewable Energy Bonds 20 24 24 $4 20.0%

 Payment to Issuer of Qualified Energy Conservation Bonds 23 32 32 $9 39.1%

 Refundable Premium Assistance Tax Credit 0 0 32,269 $32,269 0.0%

 Payment W here Adoption Credit Exceeds Liability for Tax 777 50 0 -$777 -100.0%

 Payment W here Small Business Health Insurance Tax Credit Exceeds Liability for Tax 67 56 140 $73 109.0%

 Therapeutic Discovery Program Grants and Administration 7 3 2 -$5 -71.4%

 IRS Miscellaneous Retained Fees 298 189 262 -$36 -12.1%

 IRS Informant Payments 91 125 125 $34 37.4%

 Unclaimed Assets Recovery Account 0 0 - 3 -$3 0.0%

 Pay for Success 0 0 300 $300 0.0%

 America Fast Forward Bonds 0 0 686 $686 0.0%

 Payment in Lieu of Tax Credit for New Jobs and W age Increases 0 0 133 $133 0.0%

 Travel Promotion Fund 100 100 100 $0 0.0%

 Offsets: 0.0%

 Treasury Mandatory Offsetting Receipts -35,250 -32,067 -33,035 $2,215 -6.3%

 Proceeds from Sale of Securities from the AIG Credit Facility -12,992 -2,588 0 $12,992 -100.0%

 Earnings on Investments, Lower Brule Sioux Tribe Terrestrial W ildlife 0 0 - 1 -$1 0.0%

 Earnings on Investments, Cheyenne River Sioux Tribe Terrestrial - 1 - 1 - 1 $0 0.0%

 Subtotal, MANDATORY ACCOUNTS $80,770 $129,219 $105,819 $25,049 31.0%

TOTAL, DEPARTMENT OF THE TREASURY $416,600 $516,728 $486,964 $70,364 16.9%

FY 2012 to FY 2014
Total Treasury Department Mandatory Budget

The Treasury Department Mandatory Budget 

includes $487 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 2014 policy proposals. For more detailed 

descriptions of each account, please see the 

Department of the Treasury chapter in the FY 

2014 Appendix, Budget of the U.S. 

Government at:

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

Interest Payments - $381 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 - $139 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 2014 Appendix, 

Budget of the U.S. Government.

Offsetting Collections Payments - $33

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).