The Senate and House today approved a stopgap spending bill that will avert an impending government shutdown by funding every federal government agency at current levels through Dec. 3. President Biden is expected to sign the measure into law later this evening. Absent congressional action, the government would have faced a shutdown on Oct. 1.
Of note to the housing community, the legislation will keep the National Flood Insurance Program (NFIP) funded through Dec. 3, 2021. NAHB continues to work with Congress to achieve a long-term reauthorization of the NFIP that will keep the program fiscally sound and let builders provide safe and affordable housing.