This week: Senate considers funding bills with Friday shutdown deadline
In a role reversal from last week, the Senate is back on Capitol Hill while House members remain in their home districts for a work session. Before heading home, the House advanced all of its appropriations bills, leaving the Senate a week to advance the six remaining measures yet to be enacted before federal government funding expires at 11:59 pm Eastern Friday. Action to complete those measures came into doubt over the weekend, as Senate Democrats have expressed their intent to vote against the Homeland Security funding bill. The fate of the bill, which is part of the larger six bill funding package, came into doubt after events of the weekend, putting a partial government shutdown in play.
Earlier this month, the House passed the Financial Services and General Government (FSGG) package, which maintains FY25 funding levels for FY26 for Treasury’s Community Development Financial Institutions Fund ($324 million) and NCUA’s Community Development Revolving Loan Fund ($3.4 million). The FSGG measure is part of the larger six bill package under consideration in the Senate this week.
Both the CDFI and CDRL funds were zeroed out in early budget proposals, but America’s Credit Unions and leagues successfully demonstrated the importance of full funding and will continue to engage with Senators this week to encourage them to advance the bills.
On the regulatory side, comments are due today on the Internal Revenue Service’s request for comment on its vehicle loan interest statement.
Registration is still open to attend the Governmental Affairs Conference 2026, March 1-5! In our latest announcement, renowned speaker Brené Brown is set to take the stage at the credit union movement’s premier advocacy event. Help shape the future by bringing the unified credit union voice directly to the nation’s capital at the GAC.