December 26, 2018

Partial gov't shutdown continues as Congress works on funding deal

capitolA number of federal government offices remain closed today as Congress failed to pass a funding bill by midnight Friday. However, both chambers did pass a National Flood Insurance Program (NFIP) extension until May 31; this program was also scheduled to lapse at midnight Friday. Trump signed the measure ensuring the program is extended.

NAFCU remains engaged as lawmakers try to work out a deal on government funding. The House last week passed a government funding deal that includes $5.7 billion requested by President Donald Trump for his proposed wall along the border of Mexico. The Senate also passed a bipartisan deal to keep the government funded through Feb. 8. President Donald Trump said he will not sign a bill unless it provides funding for this wall.

While much of the government remains open, the departments of Treasury, Housing and Urban Development, Justice, Transportation, Interior, Homeland Security and State, among others, have been forced to shut down.

While independent agencies, such as NCUA and Bureau of Consumer Financial Protection, are not impacted by this shutdown, many credit unions support members who are paid by the federal government, either as agency workers or under contract, that are affected.

NAFCU will keep credit unions updated as discussions continue.