On March 14, Congress enacted a continuing resolution (CR) to fund the government’s discretionary spending through September 30, 2025, the end of the current fiscal year.

Enactment of the law prevented a government shut-down that, absent this measure, would have kicked in at midnight March 15.

The House narrowly passed the measure, H.R.1968, on March 11, by a largely party-line 217 to 213 vote. One Democrat (Rep. Jared Golden (D-ME) voted for the bill while one Republican (Rep. Thomas Massie (R-KY)) voted against it. In the Senate, there were days of drama as Democrats struggled with whether to filibuster the measure due to their opposition to its contents balanced against their opposition to shutting down the government. Ultimately, 10 Democrats joined with Republicans to pass the bill by a 54 to 46 vote.

The funding law is not “clean,” but does not contain many of the “poison pill” provisions that could have caused it to go down to defeat. It generally continues current (FY 2024) funding levels, although it does boost defense spending by $7 billion, and cuts some domestic spending (new spending cuts total around $2.5 billion, but adding in elimination of earmarks and delay of advance funding (into FY 2026) for the Veterans Administration takes the total spending cut level to $7 billion).

The bill does not contain any tax provisions, nor does it contain an increase in the U.S.’s authority to borrow money (the debt limit). The measure also excluded any disaster relief—something expected to be a pressing issue for lawmakers in light of the California and North Carolina wild fires. It does, however, extend both authority and funding (at FY 2024 levels) for the National Flood Insurance Program (NFIP).

Prospects: The enactment of the CR takes the need to fund the government off the table until this fall—this fiscal year ends on September 30. It allows Congress to turn its attention to the Congressional Budget Resolution (CBR) that is needed to allow the GOP to write (and they hope enact) a filibuster-proof tax and spending cut bill. Also pressing is the need to increase (or suspend) the nation’s borrowing cap (the debt limit). That effort will take center stage when Congress returns from its scheduled recess at the end of March/beginning of April.

NAIFA Staff Contacts: Diane Boyle – Senior Vice President – Government Relations, at dboyle@naifa.org; or Jayne Fitzgerald – Director – Government Relations, at jfitzgerald@naifa.org; or Mike Hedge – Senior Director – Government Relations, at mhedge@naifa.org.