House passes omnibus spending bill with CUNA, CU priorities

The House passed the fiscal year 2018 omnibus bill Thursday, and the Senate will need to approve the bill by Friday at midnight to avoid a government shutdown. The bill, released Wednesday, contains many wins for credit unions. CUNA’s detailed analysis is available here.

CUNA again won a battle in the bill to keep the NCUA out of the appropriations process. CUNA scored a significant win last year when a provision that would have placed NCUA under appropriations was removed on the House floor by an amendment from Reps. Mark Amodei (R-Nev.) and Pete Aguilar (D-Calif.).

The bill also includes funding for two key credit union priorities, the Treasury’s Community Development Financial Institutions (CDFI) Fund and NCUA’s Community Development Revolving Loan Fund (CDRLF).

Both funds were zeroed out in President Donald Trump’s budget request for fiscal year 2018.

 

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