Lawmakers working toward stop-gap bill
Sept. 17, 2013 – With no federal budget agreement in sight and a new fiscal year just two weeks away, lawmakers are eyeing action on a continuing resolution to keep federal government operations running uninterrupted.
Lack of a budget agreement or at least a C.R. threatens a federal government shutdown, and while this doesn’t directly affect most credit unions, it could affect credit union members who are military servicemembers or work for a federal agency or department.
Action seemed near in the House last week on a C.R. to keep operations going until mid-December, but that stalled over lack of agreement on a strategy to defund the Affordable Care Act, or “Obamacare.” House Republicans are still wrangling over how to address ACA within the context of a C.R., and Hill reports note agreement may not be reached until next week.
NAFCU lobbyists are monitoring budget developments for their impact on credit unions with servicemembers or federal employees in their fields of membership and on the NCUA Central Liquidity Facility, NCUA’s Community Development Revolving Loan Fund and Treasury’s Community Development Financial Institutions Fund.
A C.R. would likely preserve 2013 funding going into 2014. Currently, the government is running on a six-month C.R. adopted in March.