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Federal budget · FY2024

Where does federal commerce and housing credit spending go?

$25 billionin FY2024 · 0.4% of all federal spending

Commerce and Housing Credit is one of the smaller and most net-of-fees functions — about $25 billion in FY2024, often net-negative in non-crisis years because deposit insurance and mortgage insurance fees offset gross outlays. The Federal Housing Administration (FHA mortgage insurance) is the largest gross-spending piece, followed by residual costs of Fannie Mae and Freddie Mac and the HUD housing-finance programs.

Other significant lines: the Patent and Trademark Office (largely fee-funded), the Census Bureau and economic statistics agencies (BEA's GDP and trade data), and the FDIC's deposit insurance fund — typically net-negative in non-banking-crisis years. The Bipartisan Infrastructure Law's BEAD broadband grants flow through NTIA in this function.

Where the money goes inside commerce and housing credit

Agency- and program-level breakdown for FY2024.

  • Federal Housing Administration$8 billion

    FHA insures mortgages for moderate-income borrowers. Outlays are net of premium income.

  • GSE-related & Treasury housing$4 billion

    Fannie Mae / Freddie Mac residual costs and HUD housing-finance programs.

  • Patent and Trademark Office$4 billion

    Largely fee-funded but counted in this function. Patent & trademark examination.

  • Census Bureau & Economic Statistics$3 billion

    Decennial census + economic indicators (GDP, unemployment, trade).

  • FDIC, OCC, deposit insurance (net)$-5 billion

    Bank regulation and deposit insurance. Often net-negative in non-crisis years.

  • Other commerce (NTIA broadband, small business credit)$11 billion

    BEAD broadband grants, ITA trade promotion, SBA capital programs.

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