Congress appears set to pass bipartisan legislation to extend government funding that expires at midnight tomorrow.
As of press time, Congress is poised to pass bipartisan legislation to extend government funding until Dec. 23 to give Congress time to act on long-term federal funding legislation, which is otherwise known as an “omnibus."
Funding is set to expire on Dec. 16 at midnight and this temporary continuing resolution (CR) would avert a government shutdown.
Critical for Big “I" members is the possible expiration of the National Flood Insurance Program (NFIP). Funding for the NFIP is currently tied to the larger government funding package and a lapse could leave millions of Americans at risk, disrupt housing markets and slow recovery efforts of past flooding events.
This week, the Big “I" and its industry partners sent a letter to congressional leadership urging them to extend the program before the Dec. 16 deadline. Specifically, the letter notes that “although there is widespread agreement that a long-term reauthorization of a reformed NFIP is needed, allowing the program to lapse would be devastating to the policyholders across the nation who are facing an increasing number of severe flooding events."
Passage of the CR now gives Congress just seven days to either pass another short-term CR through the new year or come to an agreement on omnibus legislation to fund the government for the next fiscal year. Congressional leaders are currently negotiating over several provisions in the massive spending package.
The Big “I" will continue to provide updates through the News & Views e-newsletter.
Joseph Cortina is staff administrator, Big “I" crop insurance task force.