On September 25, 2024, both the House and Senate passed a continuing resolution (CR) that will fund the government through December 20, 2024. The CR passed overwhelmingly and with bipartisan support in both chambers, averting a potential government shutdown that would have begun on October 1. President Biden is expected to sign the CR soon.
The continuing resolution is largely “clean” as it will continue to fund programs at FY 24 levels through December. Of course, given inflation, higher insurance rates, and other increased costs, it is crucial that Congress passes a full FY 25 budget as soon as possible. PHADA encourages members to advocate for maximum HUD funding in line with the Senate’s proposed figures.
The CR also contains provisions that allows HUD to repurpose unobligated Tenant Protection Voucher rollover funds for Housing Choice Voucher shortfall needs. The Department requested this provision be added to the CR to reduce its need to rely on voucher reserve offsets to address voucher shortfalls, which the Department estimates at $400 million nationwide. Departmental leaders noted at PHADA’s 2024 Legislative Forum that, should funding from the second voucher reserve offset not be needed, it will be returned to agencies.