Congress’ Spending Bill Has Some Housing Wins

Congress passed a bill that keeps federal government functioning by means of the fiscal calendar year. It also extends flood coverage to Sept. 30 and provides $85M to enhance truthful housing.

WASHINGTON – Congress passed a long-awaited invoice late Thursday evening to fund the governing administration through the remainder of the fiscal year, sending it to President Joe Biden for his signature.

The $1.5 trillion bipartisan deal retains the governing administration managing as a result of Sept. 30 and contains funds for priorities the National Association of Realtors® (NAR) supports, this kind of as housing applications, rural broadband and floor transportation tasks. The monthly bill also reauthorizes the Countrywide Flood Insurance coverage Application (NFIP).

Considering that previous October, the authorities has relied on a series of small-time period funding extensions when Congress labored towards a lengthy-phrase deal. Some highlights of NAR priorities in the bill include:

  • Flood insurance plan: Extends the NFIP as a result of Sept. 30 and supplies important funding for communities to answer to and mitigate the impacts of long run disasters, with $276 million for flood mapping.
  • Broadband: Contains extra than $550 million to grow rural broadband expert services on leading of broadband funding integrated in the American Rescue System and bipartisan infrastructure invoice last yr.
  • Honest housing: Consists of $85 million for good housing routines, together with the Division of Housing and Urban Development’s Fair Housing Initiatives Plan, Reasonable Housing Help Plan, and Countrywide Honest Housing Schooling Academy.
  • Violence From Women of all ages Act: Reauthorizes this laws and establishes the Violence Avoidance Place of work at HUD. NAR was section of the original group of housing marketplace supporters that served craft the housing provisions of the invoice.
  • Transportation: Presents the remaining funding to put into practice applications and paying out in the Bipartisan Infrastructure Framework, which handed in November.
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NAR’s policy group carries on to evaluate the 2,700-web page invoice and suggests it will give even further insight in the coming times.