Late on Monday, the US House and Senate took up and passed an omnibus spending bill that would fund the federal government through September 30, 2021 and avoiding a government shutdown that could have come as early as this week.
Additionally, the legislation also includes approximately $900 billion in long-awaited pandemic relief for consumers and businesses. Since the passage of the original $2.2 trillion CARES Act back in March, CUNA and MnCUN have spent the intervening months detailing the need for continued action from the federal government and the final bill includes many credit union priorities as a result. The provisions we have advocated for that were included in the final language were:
In addition to these facets, some other highlights from the bill that will affect credit unions include:
The final bill was well over 5000 pages so a full analysis will yet take time, but we are confident that credit unions have had a hugely positive impact on the finished product.
Network staff will follow the bill as it makes it way to the President for signature or veto.
Thanks those who shared the needs of your members during the pandemic – the stories that you shared truly helped make an impact when we spoke to legislators about the importance of continued legislative relief issues.
The Pulse is MnCUN's newsletter that keeps credit union professionals and board members updated on current news and information.