Contentious policy discussions surrounding the economy, immigration and government spending continued this week in Washington as lawmakers work towards an agreement on a federal spending bill.

State of Play

• The House narrowly approved a continuing resolution (CR), on March 11 to keep the government funded through September. Speaker of the House Mike Johnson (R-LA) managed to largely keep his GOP conference united, passing the measure days ahead of a possible government shutdown. (CBS News, March 11)
  

• To prevent a shutdown, the Senate must approve a measure before the current funding expires on Friday night. Republicans will require support from at least seven Democrats to reach the 60-vote threshold necessary to overcome a filibuster. (Financial Times, March 12)
  

• Senate Minority Leader Chuck Schumer (D-NY), told his caucus privately on  Thursday, and later in a floor speech, that he would vote to advance a GOP-written stopgap to fund the government through September. While he described the Republican spending bill as "very bad," he emphasized that the "consequences of a shutdown for America would be far worse." (Politico, March 13)
  

National Flood Insurance Program (NFIP)

• Included in the CR package, is the extension of The National Flood Insurance Program (NFIP).
  

• If enacted, this will be Congress’s 32^nd  short-term extensions of the NFIP. The Roundtable has been a long-standing supporter of a long-term reauthorization of the NFIP with appropriate reforms.
  

• A long-term reform and reauthorization of the NFIP is essential for residential markets, overall natural catastrophe insurance market capacity, and the broader economy.
  
  
• RER, along with its industry partners, will continue advocating for targeted policy solutions that can help alleviate increased insurance costs for housing providers nationwide. (Roundtable Weekly, Feb. 28)
  

Inflation Reduction Act

• As Congressional Republicans look to offset trillions of dollars in proposed tax cuts in their budget bill, Biden-era provisions from the Inflation Reduction Act (IRA) have sparked debate. (Politico, March 10; Brookings, Jan. 6)
  

• This week, a group of 21 House Republicans led by Rep. Andrew Garabino (R-NY), whose districts have benefited from billions in new investments due to IRA incentives, argued that energy tax credits and provisions for manufacturers and builders are essential in achieving President Trump's goal for the U.S. to be "energy dominant". (Politico, March 10)
  

• In a letter to President Trump, the group asserted that eliminating certain credits could mean "drastically higher power bills for American families" and emphasized that "many credits were enacted over the course of a 10-year period, which allowed energy developers to plan with these tax incentives in mind." (Reuters, March 11)
  
  

Immigration – Gold Card Proposal

• On March 11, RER sent a letter to Commerce Secretary Howard Lutnick, expressing support for the "Gold Card" proposal. This concept aims to bolster U.S. economic growth, address the national deficit, and strengthen America's competitive edge in the global marketplace.
  

• The letter reiterated support for the existing EB-5 program, which allows foreign investors to obtain a green card by making substantial investments that result in jobs for American workers and funding for large-scale developments.
  

• As RER’s letter emphasized, pairing the "Gold Card" program with the EB-5 framework offers a powerful, dual-track approach that will reform America’s visa system, attract top global talent, and drive foreign investment into strategic, job-creating projects. (Letter, March 11)
  
  
• During a meeting with GOP Senators this week, President Trump discussed his “Gold Card” Program as a revenue source to address the national deficit.
  
  

Federal Workforce Cuts and GSA Leasing

• Federal agencies faced a Thursday deadline to submit initial plans for sweeping workforce cuts and reorganizations, following President Trump's directive for "large-scale reductions in force," with a second round of plans due in April. (Politico, March 12)
  

• The "Phase 1" agency cut plans due this week mark the first step in the Trump administration's broader downsizing strategy, with "Phase 2" plans—detailing operational overhauls—due by April 14 and set for implementation by Sept. 30. (Politico, March 12)
  

• A federal judge ordered the administration to rehire thousands of employees dismissed from six agencies, disputing the Trump administration’s justification for firing the probationary workers. (NYT, March 13)
  
  
• RER will continue to track these developments and their potential implications for government leasing in Washington, D.C. and other major urban centers. (Roundtable Weekly, Feb. 7)
  
  

Both chambers are in recess next week and set to return to Washington on March 24.