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Congress to vote on funding, NDAA
Lawmakers in the House today are expected to pass a bipartisan spending package to avert a government shutdown and provide funding through the rest of fiscal year 2020. Additionally, following months of conversation, the Senate is set to vote on the FY2020 National Defense Authorization Act (NDAA) conference report this week, which was passed by the House last week.
Government Funding
Congress last month passed a continuing resolution extending funding to this Friday, Dec. 20. Authorization for the National Flood Insurance Program (NFIP) is also tied to this deadline. A similar situation happened last year and resulted in a historic 35 day partial government shutdown. Numerous credit unions stepped up and offered relief and assistance last year to federal employees and personnel impacted by the shutdown, actions which NAFCU continues to highlight to members of Congress.
The deal reached by Congress would provide funding through Sept. 30, 2020; an extension for the National Flood Insurance Program (NFIP) is also included for the same timeframe. NAFCU has urged lawmakers to fully fund credit union priorities, including the Community Development Financial Institutions (CDFI) Fund, Community Development Revolving Loan Fund, and Small Business Administration programs.
NDAA
The House last week advanced the NDAA last week, following NAFCU's months-long advocacy campaign ensured a credit union-opposed provision that would have treated big banks the same as a military installation's local, not-for-profit credit union when it comes to nominal leases was not included in the final report. The association's advocacy also successfully protected credit unions during the FY2019 NDAA discussions.
The Senate could vote on the NDAA as early as today; President Donald Trump has indicated he will sign the legislation once it passes both chambers.
Stay tuned to NAFCU Today for updates from Capitol Hill.