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Congressional Leaders and Trump Administration Reach Budget Deal

Posted By Administration, Wednesday, July 24, 2019

Yesterday, Congressional leadership and President Trump reached a $1.3 trillion tentative bipartisan budget deal. The proposal includes $320 billion in additional spending over two years and suspend the federal debt ceiling until July 31, 2021 and includes $77 billion in offsets. Under the agreement, domestic programs will receive a 4.5% increase in funding over Fiscal Year 2019 levels, which is $15 billion less than the amounts included in the House-approved spending bills.

 

However, the agreement must still must be passed by both chambers of Congress. The House is expected to vote on the deal by the end of this week before departing for a six-week recess. The Senate will be in session for an additional week and is expected to take up the deal next week. Lawmakers have the month of September to fund the next fiscal year before the government shuts down.

 

NALHFA will continue to monitor the budget process and will keep members up-to-date on any progress. Please contact Katelynn at kharris@nalhfa.org with any questions or concerns.

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