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Congress Passes $1.3-Trillion Spending Bill, Funds Government Through September

A $1.3-trillion spending bill was passed by both the House and Senate, which will fund the government through September. President Trump signed it on Friday, which avoided a government shutdown last week as Congress headed into a two-week recess.

The omnibus bill includes numerous non-spending policy provisions, as well as those affecting revenue. According to analysis by the Real Estate Roundtable, aspects of the bill that have potential real estate impacts include:

– The EB-5 immigration investment program was extended for six months, until Sep. 30.
– Tax technical corrections positively affecting Foreign Investment in Real Property Tax Act (FIRPTA) provisions; partnership audit reform rules; and an expansion of the low-income housing tax credit.
– The National Flood Insurance Program was decoupled from the omnibus, and reauthorized through the end of July.
– The EPA’s Brownfields program was reauthorized as part of the BUILD Act.
– Billions in funding for infrastructure, including a variety of sources that could be utilized for such projects as the controversial Gateway railway tunnel project between New York and New Jersey.


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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Economy
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