February 08, 2018

Government shutdown ends as Congress passes 2-year funding deal

Congress has reached a deal to fund the federal government for two years, ending a brief government shutdown. The previous funding measure expired at midnight Thursday; the president is expected to sign the measure.

The budget increases defense and domestic spending over two years, lifts the debt ceiling (which would have required congressional action in the next few weeks) and provides billions in disaster aid. Funding for the National Flood Insurance Program is included in this spending bill, and it also retroactively extends tax breaks for mortgage insurance and forgiven mortgage debt for 2017 tax filings.

NAFCU lobbyists will be following developments – stay tuned to NAFCU Today for the latest.