What is the Bureau of the Fiscal Service, the government's $5 trillion checkbook
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Elon Musk attends President Trump's inauguration in the U.S. Capitol Rotunda on Jan. 20 in Washington, D.C. Photo: Kenny Holston-Pool/Getty Images
An obscure Treasury Department office that manages trillions of dollars in payments for the entire government is the latest flashpoint in President Trump and Elon Musk's war on federal spending.
Why it matters: Musk's Department of Government Efficiency, multiple outlets reported, now has access to the Bureau of the Fiscal Service, which is essentially a checkbook for the entire federal government.
- Despite Trump's endorsement, DOGE is not an official government agency.
State of play: The Bureau of the Fiscal Service is meant to "promote the financial integrity and operational efficiency of the federal government through exceptional accounting, financing, collections, payments and shared services."
- It provides electronic options for paying federal taxes, offers Treasury securities to investors and streamlines the federal reporting process.
Catch up quick: David Lebryk, who spent more than three decades at the Treasury Department, announced his retirement on Friday after Musk allies sought access to the system.
- Treasury Secretary Scott Bessent granted DOGE full access to the payment system late Friday, per the New York Times.
- Trump put "First buddy" Musk at the helm of the newly created Department of Government Efficiency, tasked with reducing federal government spending.
By the numbers: Through fiscal year 2023, the bureau collected nearly $5.47 trillion in federal revenue, with 99.9% of receipts settled electronically, according to its website.
- It disbursed 87.9% of all federal payments. Nearly 1.3 billion payments totaled $5.4 trillion.
- It also issued $183.5 billion in Treasury retail securities and redeemed another $243 billion in securities.
Zoom in: The bureau's website helps users navigate child support enforcement, paying debts and wage garnishment.
- It also offers guidance for businesses and institutions on how to submit a government invoice, pay business taxes, provide or obtain surety bonds and access Automated Clearing House payment systems.
What they're saying: "The Bureau of the Fiscal Service's payment systems control the flow of more than $6 trillion in annual payments to households, businesses and other entities nationwide," Sen. Ron Wyden (D-Ore.) wrote in a Friday letter to Bessent.
- "These payment systems process more than a billion payments annually and are responsible for the distribution of Social Security and Medicare benefits, tax refunds, payments to federal employees and contractors, including competitors of Musk-owned companies, and thousands of other functions."
- He requested answers by Feb. 12 to questions about the Treasury Department's legal authority to grant DOGE and Musk affiliates access to the payment system and any intended changes.
Flashback: Former President Franklin Roosevelt consolidated all Treasury financing activities into a "Fiscal Service" in 1939 before World War II.
- In 2012, then-Treasury Secretary Timothy Geithner issued an order that created the Bureau of the Fiscal Service, consolidating the operations of the Bureau of the Public Debt and the Financial Management Service.
Go deeper: Musk's wrecking ball pierces government's inner sanctum
