President Signs $1.4 Trillion Spending Package to Fund the Government in FY20
Two weeks ago, President Trump signed a $1.4 trillion spending package funding the federal government for fiscal year (FY) 2020. The FY20 deal passed through Congress in the form of two minibus bills – H.R. 1865 and H.R. 1158. H.R. 1865 provides funding for domestic agencies and priorities, including HUD and USDA. H.R. 1158 includes funding for national security priorities at the Departments of Defense and Homeland Security, but also covers additional departments such as Treasury (funded through the Financial Services and General Government — or FSGG —subcommittee on appropriations).
Overall, lawmakers provided strong funding levels for housing and community development programs. The FY20 law provides $49.1 billion for HUD, which is an increase of $4.9 billion above the FY19 enacted level. Key highlights include $1.35 billion for the HOME Investment Partnership program; $3.4 billion for the Community Development Block Grant program — both $100 million increases from FY19 funding levels; and $36 million for the Section 4 Capacity Building for Affordable Housing and Community Development program, $1 million over FY19. The Treasury’s Community Development Financial Institutions (CDFI) Fund received $262 million, an increase of $12 million from FY19, and the USDA’s Multifamily Housing Preservation and Revitalization program received $28 million, an increase of $3.5 million from FY19. For more information on the funding allocations in the legislation, read our new blog from Enterprise Senior Director of Congressional Relations Liz Osborn.