Congress Extends Government Funding Through Early March

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

With funding for the U.S. Department of Housing and Urban Development and about 20% of the rest of the government set to expire at midnight on Friday, the House and Senate today approved a short-term spending bill that will keep HUD and a few other government agencies funded through March 1 and about 80% of the rest of the government funded through March 8.

Of note to the housing community, funding for the National Flood Insurance Program will be extended through March 8.

House and Senate leaders have decided on a topline budget for fiscal year 2024 — $1.59 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.

The continuing resolution to maintain overall spending at fiscal 2023 levels until early March is intended to buy time for lawmakers to pass a set of annual spending bills that will fund the government through fiscal 2024, which ends on Sept. 30, 2024.

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.

Subscribe to NAHBNow

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

Log in to subscribe

Latest from NAHBNow

Sponsored Content

Apr 18, 2025

Empowering New Home Buyers and Builders with Data and Exposure

Homebuyers are increasingly relying on a research-driven approach to their new home buying experience. Homes.com is meeting that need with its new home marketplace.

US Economy | Material Costs

Apr 17, 2025

Trade War Will Create Further Economic and Financial Market Stress

NAHB Chief Economist Robert Dietz provided this economic and housing industry overview in the bi-weekly newsletter Eye On the Economy.

View all

Latest Economic News

Economics

Apr 17, 2025

Housing Starts Decline Amid Economic Uncertainty

Constrained housing affordability conditions due to elevated interest rates, rising construction costs and labor shortages led to a reduction in housing production in March.

Economics

Apr 16, 2025

Builder Confidence Levels Indicate Slow Start for Spring Housing Season

Growing economic uncertainty stemming from tariff concerns and elevated building material costs kept builder sentiment in negative territory in April, despite a modest bump in confidence likely due to a slight retreat in mortgage interest rates in recent weeks.

Economics

Apr 14, 2025

Where Do Builders and Remodelers Buy Building Products?

The most common sources for products used in home building and remodeling are specialty retailers, lumber yards, and wholesale distributors, according to two recent NAHB surveys. The surveys include one of single-family homebuilders in the October 2024 NAHB/Wells Fargo Housing Market Index (HMI) and one of remodelers in the Q3 2024 NAHB/Westlake Royal Remodeling Market Index (RMI). Both surveys asked respondents where they purchase building products, regardless of who ultimately purchases them (themselves or subcontractors).