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Senate Passes $1.1 Trillion Spending Bill for Fiscal Year 2015

Monday, December 15, 2014 - 8:00AM

The U.S. Senate on Saturday passed the Fiscal Year 2015 Consolidated and Further Continuing Appropriations Act 2015, 56-40. This sends the $1.1 trillion spending bill to President Barack Obama, who is expected to sign it before the midnight Wednesday. The House of Representatives previously approved it by a 219-206 margin. The legislation funds most of government through Sept. 30, 2015.

The bill includes $35.6 billion for the U.S. Department of Housing and Urban Development (HUD), including $9.7 billion for Section 8 project-based rental assistance, $19.3 billion for tenant-based rental assistance, $900 million for the HOME Investment Partnerships program and $3 billion for the Community Development Block Grant (CDBG) program. The bill extends HUD's Rental Assistance Demonstration (RAD) program through 2018 and raises the cap on the number of public housing units that can participate in it from 60,000 to 185,000.

Tune in to the Dec. 16 Tax Credit Tuesday podcast to learn more.

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