Message from the Secretary of the Treasury

Message from the Secretary of the Treasury

Dear Member:

The Fiscal Year (FY) 2020 President's Budget (Budget) prioritizes Treasury's goals to maintain a strong economy and create economic and job opportunities by promoting economic growth and stability at home and abroad, and to strengthen national security by combating threats and protecting the integrity of the financial system. In particular, the Budget requests $12.7 billion for Treasury's operating bureaus and $1.6 billion for our international programs.

Consistent with the Administration's priorities, the Budget provides $35 million to support implementation of the Foreign Investment Risk Review Modernization Act (FIRRMA). FIRRMA, enacted in 2018, expands the Committee on Foreign Investment in the United States' jurisdiction and strengthens its authorities to protect critical U.S. technologies and infrastructure from new and evolving threats, while preserving an open investment environment.

Treasury's request includes $11.5 billion for the Internal Revenue Service (IRS) and provides $290 million in funding for the first installment in a multi-year plan to greatly modernize IRS systems and operations and deliver a customer experience comparable to the best financial institutions in the world. I cannot emphasize enough the long-term critical need we have to invest in the modernization of IRS information technology systems and infrastructure. The integrity of the voluntary tax compliance system depends on it. In addition, the Budget requests a program integrity cap adjustment to protect the integrity of the tax system and reduce the tax gap, returning $32 billion in measurable net savings to taxpayers over ten years.

Treasury's request also includes increased resources for the Office of Terrorism and Financial Intelligence and the Financial Crimes Enforcement Network (FinCEN) to continue their critical work safeguarding the financial system from abuse and combating other national security threats using nonkinetic economic tools. These resources continue important investments in the Terrorist Financing Targeting Center, address sanctions workload increases and demand for staffing, and build core information technology infrastructure. The Budget provides funding to expand FinCEN's role in fighting cybercrime and the exploitation of emerging payment systems such as cryptocurrency.

The Budget includes funding increases for the Office of Critical Infrastructure Protection and Compliance Policy to enhance Treasury's capacity to identify and remediate new threats and vulnerabilities.

The FY 2020 Congressional Budget Justification includes the information required for the Annual Performance Report. I have validated the accuracy, completeness, and reliability of the performance data in this report.

Sincerely,

Steven T. Mnuchin

U.S. Department of the Treasury FY 2020 Budget in Brief

Summary of FY 2020 President's Budget Executive Summary....................................................................................................................................... 1 Summary Tables and Charts

FY 2020 President's Budget Discretionary Appropriations Request........................................................... 1 Fiscal Year Comparison of Full-Time Equivalent (FTE) Staffing ................................................................ 4 FY 2020 President's Budget by Strategic Goal .......................................................................................... 5 Summary of FY 2020 Increases and Decreases ........................................................................................ 6

Appropriated Accounts ? Bureau Program Detail Departmental Offices Salaries and Expenses ............................................................................................... 7 Cybersecurity Enhancement Account.......................................................................................................... 15 Department-wide Systems and Capital Investment Program....................................................................... 19 Terrorism and Financial Intelligence ............................................................................................................ 21 Committee on Foreign Investment in the US (CFIUS) ................................................................................. 29 Office of Inspector General.......................................................................................................................... 33 Special Inspector General for TARP............................................................................................................ 37 Treasury Inspector General for Tax Administration ..................................................................................... 43 Community Development Financial Institutions Fund .................................................................................. 47 Financial Crimes Enforcement Network....................................................................................................... 51 Alcohol and Tobacco Tax and Trade Bureau .............................................................................................. 57 Bureau of the Fiscal Service ........................................................................................................................ 63 Internal Revenue Service ............................................................................................................................ 69

Non-Appropriated Accounts ? Bureau Program Detail Office of Financial Stability .......................................................................................................................... 79 Office of Financial Research... .................................................................................................................... 83 Financial Stability Oversight Council... ........................................................................................................ 85 Treasury Executive Office of Asset Forfeiture ............................................................................................. 87 Bureau of Engraving and Printing ................................................................................................................ 91 United States Mint ....................................................................................................................................... 95 Office of the Comptroller of the Currency .................................................................................................... 99 Treasury Franchise Fund .......................................................................................................................... 103

Treasury International Programs International Programs .............................................................................................................................. 109

Supplemental Information Summary of FY 2020 Appropriations Language........................................................................................ 111 Mandatory Funding Levels for the FY 2020 President's Budget ? Treasury Chapter ................................ 119 Total Treasury Department Mandatory Funding ........................................................................................ 120

The information presented in the FY 2020 Budget in Brief is accurate and complete as of March 2019. Any updates will be reflected in the budget available on the Department of the Treasury website, .

FY 2020 EXECUTIVE SUMMARY FY 2020 President's Budget Discretionary Appropriation Request

Department of Treasury - Budget in Brief

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