Congress Passes Spending Bill with NFIP, Farm Bill Extensions

On By Jon Gentile, Chief Advocacy Officer

This week the House and Senate both passed a federal government funding bill, or continuing resolution (CR) to fund the federal government. The federal government and several key programs were set to expire 12:01am Saturday, November 18 if Congress did not act. This CR is unique in that it splits the federal government funding into two separate expiration dates. It would fund Agriculture, Energy-Water, Military Construction-VA and Transportation-HUD through Jan. 19, while the other eight funding bills — including Financial Services— will run through the Feb. 2, 2024. President Biden is expected to sign the bill into law before the deadline.

Notable for PIA is the extension of two key programs in the CR: the National Flood Insurance Program (NFIP) and programs in the Farm Bill, including crop insurance.

National Flood Insurance Program

The CR extends the NFIP to February 2, 2024. Including this CR, the NFIP will be operating on its 27th short-term extension since 2017. The NFIP’s most recent five-year reauthorization expired in 2017, and, in advance of that deadline, the 115th Congress was unable to agree on NFIP reforms. PIA supports a long-term reauthorization of the program with needed reforms, like investments in agent training, updated mapping, and a means-tested affordability program. However, Congress has been unable to agree on reforms to the program and another extension was necessary. PIA will continue to work with lawmakers on the need to reform and reauthorize the NFIP on a long-term basis.

Crop Insurance

The CR would also extend each provision of the Agriculture Improvement Act of 2018 — also known as the 2018 Farm Bill — through either Sept. 30, 2024 or a date specified by a law amending the bill, whichever is later. This action authorizes the programs in the Farm Bill that needed to be funded and, importantly, gives Congress breathing room to find a way forward on passing a new Farm Bill. Throughout 2023 leaders of the Agriculture Committee have missed self-imposed deadlines on unveiling a new Farm Bill. This extension will give needed time for the committee to complete a draft bill and begin consideration. PIA is actively urging Congress to ensure the Risk Management Agency reinstate an inflation adjustment for crop insurance agents, and we will continue to do so in the weeks to come.