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Message from the Secretary of the Treasury Dear Member: in the Fiscal Year (FY) 2018 Budget Blueprint, the President Challenged

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Message from the Secretary of the Treasury Dear Member: in the Fiscal Year (FY) 2018 Budget Blueprint, the President Challenged Message from the Secretary of the Treasury Dear Member: In the Fiscal Year (FY) 2018 Budget Blueprint, the President challenged every agency to realize greater efficiencies and savings in order to contribute to the priorities promised to the American people. I am proud to submit a budget that achieves this goal. The FY 2018 President's Budget requests $11.2 billion for Treasury's operating bureaus and $1.5 billion for our International Programs. Consistent with the Administration's priorities, Treasury's request prioritizes national security and cyber security programs while requiring nearly every other program to find savings through efficiencies. The Budget funds core tax administration functions at the Internal Revenue Service (IRS), and promotes modernizing and securing legacy systems and platforms for interacting with taxpayers. IRS will utilize technology, training, and internal efficiencies to achieve a two percent reduction. The Budget also eliminates funding for Community Development Financial Institutions (CDFI) Fund grants, a savings of $210 million from the FY 2017 continuing resolution level. The CDFI Fund was created more than 20 years ago to jump-start a now mature industry in which private institutions have ready access to the capital needed to extend credit and provide financial services to underserved communities. As directed in the Executive Order on Core Principles for Regulating the United States Financial System, I am conducting a thorough review of the extent to which existing laws, regulations, and other Government policies promote (or inhibit) the Administration's priorities for financial regulation. The President's Budget includes $35 billion in savings to be realized through reforms that protect taxpayers and reverse burdensome regulations that hinder financial innovation and reduce access to credit for hardworking American families. Treasury is also reviewing its programs as directed by the Executive Order on a Comprehensive Plan for Reorganizing the Executive Branch, which presents an additional opportunity to more effectively achieve our mission. The FY 2018 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 Department of the Treasury – Budget in Brief U.S. Department of the Treasury FY 2018 Budget in Brief Summary of FY 2018 President’s Budget Executive Summary ....................................................................................................................................... 1 Summary Tables and Charts FY 2018 President’s Budget by Function............................................................................................... 1 Fiscal Year Comparison of Full-Time Equivalent (FTE) Staffing ............................................................ 3 Summary of FY 2018 Increases and Decreases ................................................................................... 4 Appropriated Accounts – Bureau Program Detail Departmental Offices Salaries and Expenses ............................................................................................... 5 Cybersecurity Enhancement Account ............................................................................................................ 9 Department-wide Systems and Capital Investment Program....................................................................... 13 Terrorism and Financial Intelligence ............................................................................................................ 15 Office of Inspector General .......................................................................................................................... 17 Special Inspector General for TARP ............................................................................................................ 21 Treasury Inspector General for Tax Administration ..................................................................................... 27 Community Development Financial Institutions Fund .................................................................................. 33 Financial Crimes Enforcement Network ....................................................................................................... 35 Alcohol and Tobacco Tax and Trade Bureau .............................................................................................. 39 Fiscal Service .............................................................................................................................................. 43 Internal Revenue Service ............................................................................................................................ 49 Non-Appropriated Accounts – Bureau Program Detail Office of Financial Stability .......................................................................................................................... 57 Office of Financial Research… .................................................................................................................... 61 Financial Stability Oversight Council… ........................................................................................................ 63 Treasury Asset Forfeiture Fund ................................................................................................................... 65 Bureau of Engraving and Printing ................................................................................................................ 67 United States Mint ....................................................................................................................................... 71 Office of Comptroller of the Currency .......................................................................................................... 75 Treasury International Programs International Programs ................................................................................................................................ 81 Supplemental Information Summary of FY 2018 Appropriations Language .......................................................................................... 85 Mandatory Funding Levels for the FY 2018 President’s Budget – Treasury Chapter .................................. 93 Treasury Department Mandatory Funding ................................................................................................... 94 FY 2017 Enacted Funding Levels ................................................................................................................ 95 The information presented in the FY 2018 Budget in Brief is accurate and complete as of May 23, 2017. Any updates will be reflected in the budget available on the Department of the Treasury website, www.Treasury.gov. Department of the Treasury – Budget in Brief Mission Statement Maintain a strong economy and create economic and job opportunities by promoting conditions that enable economic growth and stability at home and abroad; strengthen national security by combating threats and protecting the integrity of the financial system; and manage the U.S. government’s finances and resources effectively. Executive Summary FY 2018 President’s Budget by Function Dollars in Thousands Department of the Treasury – Budget in Brief 1 Funding Highlights The President’s Fiscal Year 2018 Budget provides $11.2 billion in discretionary funding (a 4 percent reduction from FY 2017 annualized continuing resolution (CR) levels) for Treasury’s operating accounts and $1.5 billion for Treasury’s international assistance programs. This includes: Investing in core administration functions at IRS, modernizing legacy systems and platforms for interacting with taxpayers. IRS will utilize technology, training, and internal efficiencies to achieve a modest $239 million (two percent) reduction, in support of the President’s commitment to deficit reduction. Eliminating funding for Community Development Financial Institutions (CDFI) Fund grants, a savings of $210 million from the 2017 annualized CR level. Prioritizing investments in cybersecurity through a Department-wide plan to strategically enhance existing security systems and preempt fragmentation of information technology management across the bureaus and financial sector. Maintaining funding for Treasury’s array of economic enforcement tools and key programs that freeze the accounts of terrorists and proliferators, implement sanctions on rogue nations, and link law enforcement agencies with financial institutions are critical to the continued safety and financial stability of the Nation. Preserving top donor status with international financial institutions while reducing Treasury International Programs funding by $803 million, a 35 percent reduction from the FY 2017 annualized CR level. Targeted savings in nearly every Treasury program. Key Initiatives and Reforms On February 3, 2017, the Administration issued the Executive Order on Core Principles for Regulating the United States Financial System. The Secretary of the Treasury, with the heads of the member agencies of the Financial Stability Oversight Council, is conducting a thorough review of the extent to which existing laws, regulations, and other Government policies promote (or inhibit) these Core Principles. The President’s Budget includes $35 billion in savings to be realized through reforms that prevent bailouts and reverse burdensome regulations
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