Sens. Lindsey Graham (R-S.C.) and Dianne Feinstein (D-Calif.), the chairman and ranking member of the Judiciary Committee, introduced a bill Wednesday to move the Secret Service back to the Department of Treasury.
The bill is in line with President Trump’s proposal in his 2021 budget to move the agency back to the Department of Treasury from the Department of Homeland Security.
“In my opinion, the Treasury is a better fit for the Secret Service as the Secret Service has primary responsibility dealing with currency forgery,” Graham said in a statement.
The Secret Service was founded in 1865 under the Treasury Department to combat counterfeit currency in the wake of the Civil War. It was moved to the Department of Homeland Security in 2003 when that department was created.
Feinstein said the Secret Service and Treasury Department leaders agree that moving the agency to the Treasury Department will be “mutually beneficial.”
“I was happy to work with Chairman Graham to draft a bill to make this happen,” Feinstein said. “I’m pleased the bill includes a requirement that the Secret Service report its expenditures, including payments to private entities. Ensuring the Secret Service functions effectively and transparently is a worthwhile goal.”
Treasury Secretary Steven Mnuchin thanked Graham and Feinstein for introducing the bill to move the Secret Service back to the Treasury Department.
“This transfer will result in efficiencies that will maximize the Secret Service’s effectiveness and better equip our government to anticipate and counter sophisticated and evolving threats of tomorrow,” Mnuchin said in a statement. “I look forward to the Senate moving forward to passing this important legislation.”
Trump’s 2021 budget proposes $2.4 billion in funding for the Secret Service for the fiscal year, which is in line with the agency’s enacted funding level for this year.
In addition to shifting the Secret Service to the Treasury Department, Trump’s budget proposed boosting funding for the IRS.
The budget proposes $12 billion in base funding for the IRS for fiscal 2021, which is more than the $11.51 billion budget for the agency that was included in the government-funding legislation the president signed in December for fiscal 2020.
