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.