GAO’s reports and testimonies give Congress, federal agencies, and the public timely, fact-based, non-partisan information that can improve government operations and save taxpayers billions of dollars.
The Securities and Exchange Commission enforces securities laws that protect investors.
The SEC collected $2.8 billion in penalties for securities law violations in FY21. Some of that goes to the Investor Protection Fund, which rewards whistleblowers and supports investor education.
The Federal Housing Finance Agency's goal is to keep the housing finance system healthy by supervising and regulating Fannie Mae, Freddie Mac, and the Federal Home Loan Bank System.
The agency spent $317.6 million in FY 2021 to do its work.
GAO saved taxpayers $66.2 billion in FY 2021. Our average return on investment for the past 5 years is $158 to $1. We did it by recommending ways to improve the efficiency and effectiveness of federal programs and more.
The Consumer Financial Protection Bureau (CFPB) works to enhance citizens' financial education and ensure that banks, lenders, and other financial companies treat people fairly.
The agency spent $711.8 million in FY 2021 to do its work.
As the COVID-19 pandemic has led to increased use of remote education, K-12 schools across the nation have increasingly reported ransomware and other types of cyberattacks.
Federal agencies offer products and services to help schools prevent and respond to cyberattacks.
The Internal Revenue Service collects taxes to fund federal programs and services.
In FY21, IRS collected over $4.1 trillion in taxes and paid out more than $1.1 billion in tax refunds, credits, and other payments—including over $569 billion related to COVID-19.
Getting missile defense systems into the field to defend the U.S. and its allies from attacks is a high priority.
Traditionally, the Department of Defense allowed more flexibility in acquiring these systems.
Treasury's Troubled Asset Relief Program was originally authorized to spend $700 billion to help prevent the U.S. financial system's collapse in 2008. As of September 30, 2021, TARP had spent $443.4 billion.
The Social Security Administration pays benefits to eligible people who are unable to work due to disability. State agencies review claims for disability benefits, and use "consultants" (physicians) to determine if claimants are medically eligible.
Treasury's Fiscal Service issues debt to borrow money for federal operations, and reports the debt on financial statements called the Schedules of Federal Debt.
As of Sept. 30, 2021, the federal debt was $28.4 trillion—up $1.5 trillion from 2020, due largely to the pandemic response.