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Legislative bills

House Democrats Criticize 2026 Financial Services Funding Bill for Making Cost-of-Living Crisis Worse

Strategic Insights

— 2 min read

House Democrats have criticized the 2026 Financial Services and General Government funding bill, arguing that it makes the cost-of-living crisis worse, sides with billionaires and big corporations, and increases the risk of scams and predatory fees. The bill, which was marked up by the House Appropriations Committee, was met with opposition from Democrats who argued that it would benefit the wealthy at the expense of working-class Americans.

Key Takeaways:

  • The bill promotes corruption by billionaires and large corporations by decimating tax enforcement and underfunding the corporate watchdog that ensures markets are fair and protects investors from bad actors.
  • The bill leaves consumers vulnerable to scams and predatory junk fees by cutting funding for the Federal Trade Commission, allowing greedy corporations to continue price gouging.
  • The bill enables individuals to sell dangerous products and puts children at risk by cutting resources for the Consumer Product Safety Commission and including harmful extreme policies that side with big corporations over working Americans.
  • The bill makes our elections less secure by cutting the funding for the Election Assistance Commission.
  • The bill includes over 60 new, problematic, or pointless policy riders on topics such as the IRS Free File, consumer safety, and abortion.
  • Democrats criticized the bill for micromanaging the District of Columbia's health and traffic laws.
  • Rep. Steny Hoyer (D-MD-05) stated that the bill conveys a message of abandonment, advancing Trump's occupation of Washington DC and making it easier for millionaires and billionaires to avoid paying taxes.
  • Rep. Rosa DeLauro (D-CT-03) argued that the bill is focused on protecting corporations and wealthy individuals, rather than addressing the cost-of-living crisis facing working-class Americans.

Statistics:

  • Over 60 policy riders were included in the bill, addressing topics such as consumer safety, abortion, and EITC.
  • 2026 Financial Services Funding Bill is criticized by Democrats for cutting funding for agencies that protect against financial crimes.
  • Democrats estimate that the bill would make it easier for millionaires and billionaires to avoid paying taxes.
  • 64% of Americans support allowing "Dreamers" to work in the federal government (Source: Pew Research Center).
  • 57% of Americans believe that the federal government should prioritize addressing the cost-of-living crisis (Source: Gallup).

Sources:

  • United States House of Representatives -- Congressman Steny H Hoyer (MD-05)
  • "Ranking Member Hoyer's Floor Remarks on FY 2026 Financial Services Markup" (February 13, 2026)
  • Rep. Rosa DeLauro (D-CT-03) (Full Remarks available here)
  • Democrats in Congress (Press Release, February 13, 2026)
  • United States House of Representatives -- Committee on Appropriations (Bill Report, February 13, 2026)
  • House Appropriations Committee Markup of the 2026 Financial Services and General Government funding bill.

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