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Financial Services Law Insights and Observations

House Appropriations Committee Approves Fiscal Year 2018 Funding Bills Affecting Housing and Urban Development, and Cybersecurity

Federal Issues Federal Legislation Financial CHOICE Act HUD Budget House Appropriations Committee Privacy/Cyber Risk & Data Security

Federal Issues

On July 17, the House Appropriations Committee (Committee) approved the fiscal year 2018 transportation, housing and urban development funding bill by a vote of 31-20. Of the total $56.5 billion in funding provided by the bill, $38.3 billion is allocated to the Department of Housing and Urban Development (HUD) for community planning and development, which is $487 million below fiscal year 2017 but $6.9 billion above President Trump’s request. According to Committee Chairman Rodney Frelinghuysen, the bill “includes responsible funding to ensure communities across the nation have access to necessary community development funds, and [will] provide housing to those who need it the most – including the poor, elderly, and disabled.”

  • A summary of the bill is available here.
  • A copy of the legislative text of the bill is available here.
  • A copy of the bill report is available here.

On July 18, the Committee approved the fiscal year 2018 homeland security bill by a vote of 30-22. The bill allocates $703 million to cybersecurity programs, which is $18 million less than President Trump’s request but $33 million above fiscal 2017 levels.

  • A summary of the bill is available here.
  • A copy of the legislative text of the bill is available here.
  • A copy of the bill report is available here.
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