Senate Appropriations Bill Would Fully Fund Request for CFIUS, TFI
The Senate Appropriations Committee unveiled an FY 2026 financial services and general government appropriations bill Nov. 24 that would fully fund the Trump administration’s request for the Committee on Foreign Investment in the U.S. and the Treasury Department’s Office of Terrorism and Financial Intelligence.
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The legislation would provide $237.7 million for TFI, which is above both the $230.5 million allocated in the House version of the bill (see 2507210007 and 2509040060) and the FY 2025 enacted level of $226.9 million. It would provide $21 million for CFIUS, matching the House bill and the FY 2025 enacted level.
A report accompanying the Senate bill directs Treasury to “fully implement all sanctions and divestment measures, particularly those applicable to Russia, China, North Korea, Iran, Venezuela, Burma (Myanmar), Belarus, designated rebel groups operating in and around the Democratic Republic of Congo, and those designated for sanction under the Global Magnitsky [Human Rights Accountability] Act.”
The committee said it wants a briefing on the use of cryptocurrency to evade sanctions. It also seeks to be “promptly” notified of “any resource constraints, as well as the use of cryptocurrencies by sanctioned nations or entities, that adversely impact the implementation of any sanctions program.”
The report also says the committee wants the Treasury and State departments to fully implement the 5-year-old Robert A. Levinson Hostage Recovery and Hostage Taking Accountability Act, including by sanctioning foreign countries that wrongfully detain U.S. nationals abroad.
From TFI's Financial Crimes Enforcement Network, the committee wants a briefing justifying the decision to delay and possibly revise new regulations that would make investment advisers subject to anti-money-laundering and counterterrorism financing requirements (see 2511050067 and 2507240021). Another requested briefing would provide an update on FinCEN's scaled-back reporting rule for beneficial ownership information (see 2509170029).
As in its FY 2025 report (see 2408020049), the committee encourages TFI to maintain “strong enforcement” of the Russian oil price cap, and it calls on Treasury to provide more information about the role of CFIUS in bankruptcy proceedings.