WASHINGTON (12/18/15)--The U.S. Senate and House are both expected to vote on the $1.1 trillion government funding bill today, a bill that contains several credit union-friendly provisions. The bill would fund the federal government through Sept. 30, 2016.
One provision would require a study of requirements involving mortgage servicing assets, and another would require cybersecurity information sharing among the government and private industry. Both are supported by CUNA, though CUNA has also supported data security legislation that would enact a strict security standard for entities that receive consumer data.
The bill also contains funding for the NCUA’s Community Development Revolving Loan Program ($2 million), the Treasury’s Community Development Financial Institutions Fund ($233.5 million) and the U.S. Agency for International Development’s Cooperative Development program ($11 million).
The House voted Thursday to approve a set of tax cut extensions, known as “tax extenders.” The package extends tax cuts on debt forgiven by mortgage lenders from the taxation of gross income.
The Senate is expected to vote on both the government funding bill and the tax extenders today.