The two-year budget deal that President Trump signed into law on August 2 raised spending by $320 billion above sequestration levels, ending the threat of across-the-board spending cuts that would have been required by the Budget Control Act of 2011. The deal also suspended the debt ceiling through July 31, 2021. Lawmakers will still need to pass FY20 appropriations legislation, however, to keep the government open after September 30.
With only 15 legislative days remaining before government funding expires, appropriators will need to move quickly to finalize FY20 appropriations legislation. While House members have already passed ten FY20 spending bills through the chamber, the Senate has not yet released any of their bills. Negotiations will need to address the differences between overall top-line numbers, since the House legislation was written prior to the budget deal and provides higher levels of funding. As negotiations unfold, Enterprise encourages Congress to provide the highest possible funding levels for critical affordable housing and community development programs.