Congress Set to Return from Break After Passing $1.4 Trillion Spending Package to Fund the Government in FY20

Before leaving for the holiday break, Congress passed and the President signed a $1.4 trillion spending package funding the federal government for fiscal year (FY) 2020. 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. The FY20 spending legislation signed by the President also included a tax package with an extension and expansion of the New Markets Tax Credit as well as additional Housing Credit allocations for California disaster areas. For a full break down on funding allocations and the year-end tax package read our blog posts from Enterprise Senior Director of Congressional Relations, Liz Osborn, and Senior Director of Public Policy, Sarah Brundage.

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