In a Win for NAHB, Congress Extends Funding for NFIP

Legislative
Published
Contact: Scott Meyer
[email protected]
VP, Government Affairs
(202) 266-8144

With the National Flood Insurance Program (NFIP) and federal government 48 hours away from a funding lapse, House and Senate lawmakers acted in a bipartisan manner to fund the operations of the federal government, including the NFIP, through early next year.

NAHB has been at the forefront in working with lawmakers to find a solution that would not let the NFIP lapse and force the government to shutter its doors. The continuation of the NFIP is an important victory for NAHB and members of the residential construction industry who rely on this program to provide certainty and predictability for the flood protection and mitigation strategies for which it was designed.

As Congress debated on whether to fund a short-term funding bill to avert a government shutdown, NAHB made it perfectly clear to lawmakers that what the housing market needs now is stability and certainty. We sent a strong message that uncertainty over whether the NFIP will lapse, coupled with the growing possibility of a government shutdown, would have a significant negative economic effect on home builders, home buyers, multifamily developers and renters.

Congress heeded our concerns and moved to pass legislation that will fund all federal agencies in two tranches at current levels. Funding for certain agencies, such as the Department of Housing and Urban Development, will be extended until Jan. 19 while most other agencies and the NFIP will be funded at 2023 levels through Feb. 2.

Congress took this approach to allow as much time as possible for the House and Senate to pass and negotiate full-year spending bills and to avert a massive year-end omnibus bill that packages many of the smaller ordinary appropriations bills into one larger single bill.

Fight Continues for Job Corps

House lawmakers have yet to approve the fiscal year 2024 Labor, Health and Human Services, Education and Related Agencies Appropriations bill. In its current form, the spending bill completely eliminates funding for the Job Corps program. The Senate fiscal 2024 Labor-HHS spending bill retains funding for Job Corps at its 2023 level of $1.7 billion.

In the House, NAHB championed an amendment offered by Reps. Sanford Bishop (D-Ga.) and Mark Amodei (R-Nev.) that would restore and fully fund the Job Corps program. Unfortunately, the House ruled the amendment was not in order and failed to vote on the proposal.

With no Job Corps funding, NAHB immediately pivoted and called for the House to oppose the Labor-HHS spending bill. Thanks in large part to our efforts, the House has failed to approve this appropriations bill.

As a result of the continuing resolution passed by Congress, Job Corps funding will continue at its current 2023 level until Feb. 2. Between now and then, NAHB will work tirelessly with House lawmakers to restore complete funding for Job Corps and oppose any efforts to pass the Labor-HHS spending bill until lawmakers satisfactorily resolve this issue.

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

Subscribe to NAHBNow

Log in or create account to subscribe to notifications of new posts.

Log in to subscribe

Latest from NAHBNow

Economics | Housing Affordability

Aug 21, 2025

New and Existing Homes Remain Largely Unaffordable in Second Quarter

While new homes remain largely unaffordable, builder efforts to improve housing affordability paid dividends in the second quarter of 2025, according to the latest data from the NAHB/Wells Fargo Cost of Housing Index (CHI). The CHI results from the second quarter of 2025 show that a family earning the nation’s median income of $104,200 needed 36% of its income to cover the mortgage payment on a median-priced new home. Low-income families, defined as those earning only 50% of median income, would have to spend 71% of their earnings to pay for the same new home.

Economics

Aug 20, 2025

Custom Home Building Grows as Broader Housing Market Struggles

An analysis of census data by NAHB economists shows that custom home building grew 4% in the second quarter of 2025 as high interest rates and home prices suppress demand for traditional spec home production.

View all

Latest Economic News

Economics

Aug 21, 2025

Existing Home Sales Rise in July

Existing home sales rebounded in July as mortgage rates retreated from the recent peak and home price growth slowed, according to the National Association of Realtors (NAR).

Economics

Aug 21, 2025

New and Existing Homes Remain Largely Unaffordable in Second Quarter

While new homes remain largely unaffordable, builder efforts to improve housing affordability paid dividends in the second quarter of 2025, according to the latest data from the National Association of Home Builders (NAHB)/Wells Fargo Cost of Housing Index (CHI).

Economics

Aug 20, 2025

Retreat for Single-Family Built-for-Rent Housing

Single-family built-for-rent construction fell back in the second quarter, as a higher cost of financing crowded out development activity.