On January 18, the House and Senate agreed to a short-term spending bill, which prevented a government shutdown. The measure ensures funding for the U.S. Department of Housing and Urban Development (HUD) and other agencies until March 1, with about 80% of the government funded through March 8. Of note, the National Flood Insurance Program's funding gets an extension until March 8.

 
House and Senate leaders have agreed on a topline budget of $1.59 trillion for fiscal year 2024, with the next challenge being the allocation of these funds across various spending bills. This temporary resolution, maintaining fiscal 2023 spending levels, buys time for lawmakers to finalize annual spending bills that will cover the government through September 30, 2024.

Notably, the National Association of Home Builders (NAHB) is closely monitoring these developments, especially concerning HUD and relevant agencies. As the appropriations process unfolds, the NAHB stands ready to engage and contribute as needed.

As the nation navigates through fiscal intricacies, this short-term funding solution offers a brief reprieve while policymakers strategize the financial blueprint for the coming year.

https://www.nahb.org/blog/2024/01/congress-averts-government-shutdown

As seen in LASN magazine, January 2023.