UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                              Washington, DC 20549

                                    FORM N-PX

          ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT
                               INVESTMENT COMPANY

Investment Company Act file number  811-4260
                                   ------------


                       AXP GOVERNMENT INCOME SERIES, INC.
- --------------------------------------------------------------------------------
               (Exact name of registrant as specified in charter)


  50606 AXP Financial Center, Minneapolis, Minnesota                55474
- --------------------------------------------------------------------------------
         (Address of principal executive offices)                 (Zip code)


Leslie L. Ogg - 901 S. Marquette Avenue, Suite 2810, Minneapolis, MN 55402-3268
- --------------------------------------------------------------------------------
                     (Name and address of agent for service)


Registrant's telephone number, including area code:  (612) 330-9283
                                                    -----------------

Date of fiscal year end:       5/31
                          --------------
Date of reporting period:  7/1/03-6/30/04
                          --------------


******************************* FORM N-Px REPORT *******************************

ICA File Number: 811-04260
Reporting Period: 07/01/2003 - 06/30/2004
AXP Government Income Series, Inc.









=================== AXP SHORT DURATION U.S. GOVERNMENT FUND ====================

During the period  covered by this report,  the Fund held no securities in which
there  was a  securityholder  vote.  Accordingly,  there  are no proxy  votes to
report.


====================== AXP U.S. GOVERNMENT MORTGAGE FUND =======================

During the period  covered by this report,  the Fund held no securities in which
there  was a  securityholder  vote.  Accordingly,  there  are no proxy  votes to
report.



                                   SIGNATURES


Pursuant to the requirements of the Investment Company Act of 1940, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


(Registrant)                  AXP Government Income Series, Inc.




By (Signature and Title)*     /s/ Paula R. Meyer
                              ------------------
                                  Paula R. Meyer
                                  President

Date                              August 26, 2004


* Print the name and title of each signing officer under his or her signature.