Final Legislative Week on Capitol Hill

In the final scheduled week of the legislative calendar, Congress will need to pass a government funding bill to prevent a partial government shutdown and extend the National Flood Insurance Program (NFIP) before it lapses. Both are set to expire Friday. As of this writing, the Administration and legislative leaders have yet to reach an agreement on boarder security funding so a partial shut-down is possible.

The House and Senate are expected to continue work on government funding legislation, including the financial services and general government (FSGG) appropriations measure. The House may also continue its work on year-end tax legislation.

CUNA and the state leagues have advocated for full funding for the NCUA's Community Development Revolving Loan Fund (CDRLF) and Treasury's Community Development Financial Institutions (CDFI) Fund, which is included in the Senate-passed version of the FSGG bill. Both Senate- and House-passed versions include full funding for the Small Business Administration's (SBA) 7(a) and 504 loan programs, which are used by credit unions.

The House Financial Services Committee will hold a hearing Thursday entitled “The Peril of an Ignored National Debt” followed by a Friday hearing entitled “A Legislative Proposal to Provide for a Sustainable Housing Finance System: The Bipartisan Housing Finance Reform Act of 2018.”