Senate Subcommittee Zeros Out TMF Funding for FY2020

The Senate Subcommittee on Financial Services and General Government today approved the FY2020 Financial Services and General Government Funding bill that zeros out funding for the Technology Modernization Fund (TMF) for FY2020, a source with knowledge confirmed.

The bill approved by the subcommittee today is due to be taken up on Sept. 19 by the full Senate Appropriations Committee.

The House in June approved $35 million of FY020 funding for TMF, which provides money to Federal agencies to pursue IT modernization projects that will generate savings to repay the fund. Differences in final House and Senate funding measures are reconciled in conference committee.