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

Material Costs

Aug 29, 2025

NAHB's Monthly Update Features Canadian Lumber Duties Talking Points

The update provides the latest messaging framework to help members articulate housing priorities and latest news related to the Canadian lumber imports and builder sentiment.

Advocacy | US Economy

Aug 28, 2025

Podcast: Congressional Priorities and the Trump Economy Heading into Fall

On the latest episode of NAHB podcast Housing Developments, NAHB CEO Jim Tobin and COO Paul Lopez discuss how the rest of the year looks as Congress gets ready to return to Washington next week.

View all

Latest Economic News

Economics

Aug 29, 2025

Multifamily Absorption Rises in the Second Quarter

The percentage of new apartment units that were absorbed within three months after completion rose in the second quarter, according to the Census Bureau’s latest release of the Survey of Market Absorption of New Multifamily Units (SOMA).

Economics

Aug 28, 2025

Mortgage Rates Move Lower, Hitting 10-Month Low

Average mortgage rates in August continued their steady decline and are now at their lowest rate since last November.

Economics

Aug 27, 2025

Wood-Framed Home Share Increased in 2024

Wood framing continues to dominate the U.S. single-family home construction market, according to NAHB analysis of 2024 Census Bureau data.