Congress Averts Partial Government Shutdown | Building Contractors Association of Southwestern Idaho | Boise, Nampa, Caldwell, Idaho | Treasure Valley
Connect with us:

Congress Averts Partial Government Shutdown

To buy time to get a long-term budget deal, Congress passed a short-term continuing resolution that will keep the U.S. Department of Housing and Urban Development and about 20% of the rest of the government funded an additional week through March 8. In addition, lawmakers agreed to extend funding for about 80% of the rest of the government — which also includes funding for the National Flood Insurance Program — for an extra two weeks through March 22. Absent government action, funding for HUD would have expired at 12:01 a.m. on March 2.

House and Senate leaders have decided on a topline budget for fiscal year 2024 — $1.7 trillion in discretionary spending. The hard work is deciding how to allocate this total figure among the 12 individual spending bills that provide the full-year budget for the federal government.

In announcing the agreement on the short-term bill to keep the government open and buy more time to pass critical appropriation bills, House and Senate Republican and Democratic leaders said they have reached a deal on six bills that will fund the following government agencies: Agriculture-FDA, Commerce-Justice and Science, Energy and Water Development, Interior, Military Construction-VA, and Transportation-HUD. Lawmakers are expected to pass legislation to fund these agencies before March 8.

Congress intends to finalize, vote on and enact the remaining six appropriations bills — Defense, Financial Services and General Government, Homeland Security, Labor-HHS, Legislative Branch, and State and Foreign Operations — prior to March 22.

As the entire appropriations process moves forward with HUD and other relevant agencies, NAHB will continue to monitor developments closely and weigh in as appropriate.

Source link