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08/07/2019
House Passes Budget Bill, President Endorses Deal to Help Housing Programs
The House of Representatives passed a budget bill this week and raised the debt ceiling for two years. Despite some fears of a federal shutdown, a budget passed that should help housing programs nationwide. The bill now moves on to the Senate for consideration.
President Trump endorsed the deal, reaching an agreement with House leadership for a bipartisan $1.3 trillion budget deal, which would include $320 billion in additional spending over two years and suspend the federal debt ceiling until July 31, 2021. The agreement would eliminate permanently the budget caps put into place by the Budget Control Act of 2011. The deal would include $77 billion in offsets.
The Senate will be in session for an additional week and is expected to take up the deal next week. Lawmakers will now have the month of September to fund the next fiscal year through the Appropriations process.
For more information on the bill, check out this Washington Post article and stay tuned for future LeadingAge articles.