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☆ Man Behind California Forever, Silicon Valley's City of the Future
▼ + stars: | 2024-05-05 | by ( Hugh Langley | Adam Rogers | ) www.businessinsider.com time to read: +29 min

He sees California Forever. And if he can't undo the damage, there may never be a California Forever. California Forever may be a subdivision, but it's precisely the kind of subdivision America needs right now. But here's the thing: California Forever may be a subdivision, but it's precisely the kind of subdivision America needs right now. Places like California Forever aren't being opposed by the people who are desperate for a place to live.

Persons: Jan Sramek's, Goldman Sachs, Sramek, Reid Hoffman, Laurene Powell Jobs, Marc Andreessen —, They've, Christie Hemm, Peter Thiel, Jan Sramek, Jan, Thiel, Goldman, CheatSheet, Sramek's, hadn't, Jonas Rave, who's, —, Guy Saidenberg, Evernote, Marc Andreessen, Jane Jacobs, He's, he'd, Robert Moses, growth.y Christie Hemm, Flannery, Bronson Johnson, David George, Andreessen Horowitz, Marilyn Farley, Farley, Solano County's, Kathleen Threlfall, Bill Mortimore, California Forever's, Jessica Christian, he's, Lyle Lanley, Solano, Sam Houston, weren't, Gabriel Metcalf, You've, John Garamendi, Garamendi, isn't, they'll, latte, Christie, Travis, I've, aren't, They're Organizations: Silicon, California, BI Development, University of Cambridge, London School of Economics, Party, Rising Star, Facebook, York, Sramek's, BI Sramek, Google, American, Planners, Sacramento -, Travis Air Force Base, Area, titans, Farmers, councilwoman, California Forever, Sacramento Municipal Utility District, Air Force, Flannery Associates, Disney, San Francisco, Vallejo Naval, Historical Museum, Rep, BI, Solano, Sierra, Goldman Locations: San Francisco, It's, Sramek, California, Rio Vista, Solano County, Napa, Sacramento, Silicon Valley, America, London, Zurich, England, Czech Republic, Dřevohostice, York, British, Eastern Europe, Cambridge, Bay Area, Hayes Valley, America's cutest, Atlanta, Phoenix, Copenhagen, Barcelona, New York, Sacramento - San Joaquin, San Francisco Bay, Lake Tahoe, Toledo , Ohio, Silicon, Google's, Toronto, Big Tech, China, Calif, Springfield, Vallejo, He's, Atherton, Foreverville, Fairfield, Austin, Solano, Valley, Europe

☆ A mortgage advisor shares how to get the 3.5% down payment on an FHA loan fully covered — and the 3 best strategies real-estate investors can use to maximize leverage from government loans
▼ + stars: | 2024-05-02 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

This was achieved by allowing first-time buyers to purchase a home with a smaller down payment — as low as 3.5%. The program is still around, and it's often a great way for real-estate investors to get started. Advertisement3 ways to make the most of government loan programsWelgan also shared two strategies that real-estate investors can use to maximize the leverage offered through government loans. Buyers can now purchase up to a four-unit property with a down payment of as little as 5%. "That's been a game changer for real-estate investors," Welgan said.

Persons: —, Jeff Welgan, Fannie Mae, Buyers, Welgan, Fannie Mae's, That's, ADUs, Dave Meyer, Fannie, I've Organizations: Service, Act, Business, Federal National Mortgage Association, Mortgage, Urban Locations: Los Angeles County , California, Michigan, California

When you miss a mortgage payment, you incur late fees and hurt your credit score. But skipping mortgage payments comes with serious consequences that could include losing your house. Are you finding it hard to make your monthly mortgage payment? This allows you to pause your mortgage payments for a certain amount of time or, in some cases, make reduced payments instead. FAQsWhat should I do first if I realize I can't make my mortgage payment?

Persons: Craig Martin, Christian Mills, Freddie Mac, you've, you'll, it's, Aly J, Yale Aly J, Bob Organizations: Christian, US Department of Housing, Urban, Chevron, Yale, Forbes, Money Magazine, The Dallas Morning News, Bob Schieffer College of Communication, Twitter

☆ New home sales inch higher despite 7% mortgage rates: 'There's more opportunity,' economist says
▼ + stars: | 2024-04-26 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

While the spring housing market has been plagued with low supply, high prices and spiking interest rates, would-be homebuyers are focusing on new construction. New homes have more incentives and availability than previously owned ones. "There's more opportunity in new construction," said Nicole Bachaud, a senior economist at Zillow Group. Meanwhile, sales for previously owned homes dropped by 3.7% from March 2023, the National Association of Realtors found. With 30-year fixed-rate mortgage rates sitting above 7%, homeowners who bought at much lower rates in recent years don't like the prospect of trading in their low rate for a higher one.

Persons: Nicole Bachaud, Biden, Bachaud Organizations: Zillow, . Census, U.S . Department of Housing, Urban Development, National Association of Realtors, Finance, Buyers Locations: U.S

☆ Miami is 'ground zero' for climate risk. People are moving to the area and building there anyway
▼ + stars: | 2024-04-26 | by ( Greg Iacurci | ) www.cnbc.com time to read: +20 min

South Pointe Beach in Miami Beach, Florida. Climate risk is "always on our thoughts," said Habibian, 39, who moved to Miami-Dade County about six years ago. Despite that risk, 66% of Miami-Dade County residents said they'd never leave, according to a study published in the journal Climate Risk Management. "We try to be smart about it, try to be proactive as best we can," Arditi said of climate risk. Juxtaposed at left was one of the last remaining patches of mangroves in the urban Miami area, a living memorial to a once-thriving population.

Persons: Greg Iacurci, Daniel Habibian, Harold Wanless, Sonia Brubaker, Saul Martinez, Andrew Rumbach, Rumbach, Joe Raedle, Irma, Al Diaz, they'd, Steven Bustamante, Bustamante, Jeff Greenberg, There's, David Arditi, Arditi, Aria's, Jeff Bezos, Goldman Sachs, Douglas Sacks, Ken Griffin, Brubaker, Biscayne Bay . Miami Worldcenter, Chandan Khanna, Dion Williams, Williams, Dion, Todd Crowl, Crowl, We're, Erik Salna, Chris Baraloto, Rita Teutonico, Amy Knowles, Knowles, it's, City of Miami Beach Greg Iacurci Miami Organizations: Greg Iacurci MIAMI, University of Miami, City, CNBC, Cumming Group, Florida Department of Transportation, Bentley, Bloomberg, Getty, Urban Institute, Organisation for Economic Co, Miami, Volunteers, Florida Keys, Miami Herald, Tribune, Service, Dade, Risk, Yale University's School of, Finance, SEC, Miami Beach, Universal, Group, Aria Development, National Association of Realtors ., Miami Realtors, Amazon, Citadel, Resorts, Bloomberg News, Dade County's, Getty Images, Residences, Pointe Park, Fifth, Afp, Federal Emergency Management Agency, Management, Sunshine, Insurance, Institute, Florida International University Institute of Environment, Hurricanes, University of Pennsylvania, International Hurricane Research, of, Florida International University, City of Miami Beach Locations: Pointe Beach, Miami Beach , Florida, Miami, South Beach, Dade, City of Miami, Dade County, New York, Fort Lauderdale, West Palm, South Florida, Florida, Tampa, St . Petersburg, Miami , Florida, Southeast Florida, Miami Beach, City, Aria's Miami, U.S, California , New York, New Jersey, America, Caribbean, New York City, Biscayne Bay . Miami, Pointe, It's, Surfside, . Florida, Biscayne Bay, Miami's, Bermuda, Kampong, Coconut Grove, Brittany Bay, South Pointe, City of, Brittany Bay Park

☆ Here's why FEMA has spent about $4 billion to help destroy flood-prone homes
▼ + stars: | 2024-04-22 | by ( Lindsey Jacobson | In | ) www.cnbc.com time to read: +5 min

'I have no regrets'Andrea Jones accepted a floodplain buyout for her home in the Charlotte, North Carolina, area. CNBCAndrea Jones, 59, sold her home in the Charlotte, North Carolina, area in a floodplain buyout. On average, federal buyouts can take two to five years, though 80% of the FEMA acquisitions are approved in less than two years. Jones' buyout was delayed by the pandemic, but once she started the process up again in May 2022, things moved quickly. In addition to FEMA, the U.S. Department of Housing and Urban Development and many state and local communities fund floodplain buyouts.

Persons: Siders, Andrea Jones, CNBC Andrea Jones, Jones, Andrea Jones Jones, they're, Mathew Sanders, Sanders Organizations: Federal Emergency Management Agency, FEMA, University of Delaware's, Program, CNBC, Finance, Charitable, Congressional Research Service, U.S . Department of Housing, Urban Development Locations: Charlotte , North Carolina

☆ Consumers may soon get access to a share of $8.8 billion in Inflation Reduction Act home energy rebates
▼ + stars: | 2024-04-22 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

The IRA splits $8.8 billion in total rebate funding between two programs: the Home Efficiency Rebates program and the Home Electrification and Appliance Rebates program. The Home Electrification and Appliance Rebates program The Home Electrification and Appliance Rebates program pays consumers a maximum amount of money for buying specific technologies and services, Saul Rinaldi said. Home Efficiency Rebates program Conversely, the Home Efficiency Rebates program is technology-neutral, Saul Rinaldi said. Larger rebates flow to those who cut more energy, Saul Rinaldi said. In this way, the Home Efficiency Rebate's value can technically exceed that of the Home Electrification and Appliance Rebates program, Zelmar said.

Persons: Zelmar, Jan, Biden, Kara Saul Rinaldi, Saul Rinaldi Organizations: Energy Department, AnnDyl, U.S . Department of Housing, Urban Locations: Arizona , California , Colorado , Georgia, Hawaii , Indiana , Minnesota , New Hampshire , New Mexico , Oregon, Washington, Georgia, Oregon , Indiana, New Mexico

☆ Nowhere for the water to go: Dubai flooding shows the world is failing a big climate change drainage test
▼ + stars: | 2024-04-21 | by ( Michelle Castillo | ) www.cnbc.com time to read: +2 min

The Dubai flooding last week illustrated how urban engineering is failing a major climate change test. The United Arab Emirates' city and others like it built on previously uninhabitable areas reflect 20th century urban development ideas that result in the blocking of natural water absorption systems. What's known is that Dubai was built on sand, a natural environment which lets water seep into the soil very easily. But by pouring massive amounts of concrete on top of Dubai's natural terrain, the developers effectively blocked the soil from absorbing water. Plastic products don't absorb water well, and when they end up in landfills around the world, massive piles of trash contribute to a global backup of natural drainage systems.

Persons: Ana Arsky, Arsky Organizations: United Arab, UAE, CNBC Locations: Sharjah, UAE, Dubai, United Arab Emirates, it's

☆ Los Angeles is using AI in a pilot program to try to predict homelessness and allocate aid
▼ + stars: | 2024-04-19 | by ( Kate Rogers | ) www.cnbc.com time to read: +3 min

In December of last year, single mom Courtney Peterson was laid off from her job working for a now-shuttered inpatient transitional living program. Peterson said she began to research potential avenues for help, immediately concerned about making January's rent. "I started to reach out to local churches or places that said they offered rent assistance," Peterson told CNBC. Instead of an eviction notice, Peterson received a letter from Homelessness Prevention Unit within the Los Angeles County Department of Health Services, offering a lifeline. The pilot program uses predictive artificial intelligence to identify individuals and families at risk of becoming homeless, offering aid to help them stabilize and remain housed.

Persons: Courtney Peterson, Peterson, I'd, Dana Vanderford, they've, Vanderford, we've, Amber Lung, Lung Organizations: CNBC, Prevention, Angeles County Department of Health Services, U.S Department of Housing, Urban, county's Department of Health Services, American Locations: Van Nuys, Los Angeles, California

☆ Here are some tips for homebuyers to save on costs with newly built homes, experts say
▼ + stars: | 2024-04-18 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

Buyers of newly built homes can come across a number of sticker shocks. In February, the median sale price for new construction sold in the U.S. was $400,500, according to the U.S. Census Bureau and the Department of Housing and Urban Development. Depending on what you're picking, they're adding up the tab," Fuentes said. To save on costs with a new build, it may be in a potential buyer's best interest to hire a contractor later on to add desired finishes, experts say. "Think about those elements that could be easily added at a later date," said Angie Hicks, home expert and co-founder of Angi, an online marketplace that connects homeowners with professional contractors for home maintenance or renovations.

Persons: Veronica Fuentes, Fuentes, Angie Hicks Organizations: . Census, Department of Housing, Urban, Finance Locations: U.S, Washington ,

☆ One of the world’s highest cities starts rationing water as reservoirs fall to critical levels
▼ + stars: | 2024-04-11 | by ( Stefano Pozzebon | ) edition.cnn.com time to read: +6 min

But this marks the first time in recent history that Bogotá has been forced to implement water rationing measures. Mayor Carlos Galán announced that water rationing measures for Bogotá would begin on April 11. El Niño is a natural climate pattern originating in the Pacific Ocean along the equator, which influences weather around the globe. In a country as politically divided as Colombia, the urgency of addressing El Niño is a rare point of consensus. Bogotá’s water rationing plans have been supported by the country’s president, who has historically had a testy relationship with the city’s mayor.

Persons: Colombia CNN —, Montgomery Burns, “, El Niño, Ivan Valencia, Carlos Fernando Galán, ” Galán, It’s, El, Bogotá, Magdalena, ”, Armando Sarmiento, Sarmiento, Mayor Carlos Galán, Fernando Vergara, Niño, Susana Muhamad, ” CNN’s Heather Law, Ana Melgar Organizations: Colombia CNN, ”, Bogotá’s Javeriana University, CNN, Bogotá, El Niño Locations: Bogotà, Colombia, Bogotá, San Rafael, El, Colombian, Latin America, Mexico City, Magdalena, Colombia’s, Bogota, Mayor, Sarmiento

☆ A graffiti ‘takeover’ roils downtown Los Angeles
▼ + stars: | 2024-04-10 | by ( Leda Abkenari | Leda Joy Abkenari | ) edition.cnn.com time to read: +9 min

CNN —Climbing up abandoned, unfinished floors and tightrope walking across balcony ledges, backpacks clanging with cans of alkyd and acrylic, a collective of Los Angeles graffiti artists have transformed their craft beyond urban aesthetics to champion community issues. (The Los Angeles City Attorney confirmed to CNN that, as of April 3, criminal charges have been filed against 23 individuals, for violations including trespassing and possession of vandalism tools.) ENDEM's tag, pictured here adorning the walls of the 3rd Street tunnel in Downtown Los Angeles. And as a result of that, they’re on the streets,” Hutchinson told CNN, noting that the homeless population in Los Angeles is continuing to grow. (“This has strained our deployment,” LAPD Chief Michel Moore said during a February meeting of the Los Angeles City Council.

Persons: tagger ENDEM, “, Keith Haring, Banksy, Endem, ENDEM, ” ENDEM, Oceanwide, ” Roger Gastman, Roger Gastman, Earl Ofari Hutchinson, “ You’ve, ” Hutchinson, Hutchinson, Mario Tama, Michel Moore, ”, Blair Besten, ” Besten, Gastman, — we’re, We’re, it’s, ” Gastman, It’s Organizations: CNN, Oceanwide Holdings, Los Angeles City Attorney, Oceanside, Los Angeles Urban Policy, Los Angeles Housing Services Authority, LA, Plaza, LAPD, Los Angeles City Council, Downtown, Oceanwide Locations: Angeles, Downtown LA, Germany, New York City, Downtown Los Angeles, Oceanside, LA, Los Angeles

☆ Nigeria wants a road to rival the Pacific Coast highway. Landmark Beach stands in the way
▼ + stars: | 2024-04-05 | by ( Nimi Princewill | ) edition.cnn.com time to read: +7 min

The beach resort and other sections of the Landmark site on the coastal right of way are billed to be pulled down, a government notice seen by CNN states. “People who bring in money to make cities like this effective will be very concerned (with the proposed demolition of the beach resort). Environment consultant Adeodun is urging authorities to conduct thorough environmental and social impact assessments before tearing down coastal businesses for the superhighway. “I understand that the original right of way for the road did not pass through Landmark Beach… Perhaps, revisiting the routes to ensure minimal environmental damage and preserve local businesses should be strongly considered,” he added. For Onwuanibe, the coastal highway, once rethought, should serve as a blessing for thriving businesses situated along the coast rather than a curse.

Persons: Paul Onwuanibe, –, Onwuanibe, Temitope Ajayi, ”, Ajayi, Similade Adeodun, ” Onwuanibe, “ We’ve, Adeodun, ” Adeodun, “ Organizations: Nigeria CNN —, CNN, Landmark Group, Lonely, Lagos State Ministry of Physical, Urban, “, Landmark, Landmark Realty Limited, Nigerian Economic Summit Locations: Lagos, Nigeria, Calabar, Cameroon, Victoria, Ireland, United States, Victoria Island, United Kingdom, Africa, Landmark Realty Limited Lagos

☆ Meet the billionaire 'king of subprime car loans' whose company underwrote Trump's $175 million civil fraud bond
▼ + stars: | 2024-04-02 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

Billionaire Don Hankey's company underwrote a $175 million appeal bond for Donald Trump. The 80-year-old oversees Hankey Group, which employs over 3,400 people and whose assets are worth around $22.5 billion, per Forbes. Axos Bank CEO Greg Garrabrants has previously donated around $50,000 to Republican campaigns since 2012, with $9,600 in support of Trump, according to Federal elections records. Related storiesHankey's net worth is estimated at $7.4 billion, according to Forbes — and it's nearly doubled within the last three years. The mansion ended up auctioning for less than half of its expected $500 million worth.

Persons: Don Hankey's, Donald Trump, Hankey, —, Don Hankey swooped, It's, that's, Trump, refinanced, Greg Garrabrants, Forbes —, Ford, Westlake, Niami, David Sucsy, Niami's, Allen J, Schaben, Getty Hankey, Debbie Hankey Organizations: Bel, Service, Hankey Group, Forbes, Hankey's, Specialty Insurance, Bloomberg, Axos Bank, Axos, Trump, Westlake Financial Services, Hankey Investment, Bel Air, Los Angeles Business Journal, University of Southern Locations: Southern California, Bel Air Los, Bel, University of Southern California, Malibu

☆ Housing 'affordability has just totally collapsed,' economist says
▼ + stars: | 2024-04-02 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

"Since the pandemic, affordability has just totally collapsed," said Chen Zhao, a senior economist at Redfin. February 2021 was the last month when the typical household earned more money than they needed to afford the median home. The U.S. Department of Housing and Urban Development (HUD) sets the standard of affordability at 30% of household income. Affordability deficit narrowed in FebruaryThe average household fell short $29,448 to afford a home in February, according to Redfin. The affordability deficit narrowed because rates have been on a consistent decline since the last peak in October, according to Zhao.

Persons: Chen Zhao, They've, Zhao, It's, Jeff Ostrowski, Veronica Fuentes, Fuentes, Ostrowski, Buyers, Redfin, Louis, What's Organizations: Getty, Redfin, Finance, U.S . Department of Housing, Urban Development, Northwestern Mutual, Cleveland Locations: U.S, Detroit, Pittsburgh, St, Philadelphia, Indianapolis, Warren, Mich, Cincinnati, Milwaukee , Kansas City , Virginia Beach, Va, Antonio, Columbus , Ohio

☆ Mark Cuban won't vote for Trump for 1 big reason: turnover rate
▼ + stars: | 2024-03-30 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

The Trump White House experienced a record turnover rate, a Brookings Institution study showed. Billionaire Mark Cuban says that's one reason he won't vote for Donald Trump. Still, those numbers reflect a relatively stable presidency — especially, as Cuban noted, when comparing the turnover rate to Trump's White House. According to the study, that was the highest first-year turnover rate for any presidency in at least four decades. By the end of his administration, the Trump White House saw a 92% turnover rate during his time in office.

Persons: Billionaire Mark Cuban, Donald Trump, Biden hasn't, Cuban, podcaster Lex Fridman, —, Mark Cuban, Lex Fridman, Joe Biden, Biden, Fridman, he's, hasn't, who's, Marcia L, Fudge, Marty Walsh, Trump, Biden's, George H.W Organizations: Trump White House, Brookings, Billionaire, Service, Trump, Cuban, Biden Administration, Urban Development, Labor, Brookings Institution, Trump White, Obama Administration, Biden, Republican Locations: Cuban, Bush, Brookings

☆ Opinion | Kamala Harris’s Epic Fail in Puerto Rico
▼ + stars: | 2024-03-28 | by ( Yarimar Bonilla | ) www.nytimes.com time to read: +1 min

Kamala Harris arrived in San Juan, P.R., last Friday for her first official visit as vice president. The trip was meant, in part, to highlight the Biden administration’s dedication to aiding the island’s recovery. Ms. Harris’s roughly five-hour visit began in the community of San Isidro, in the municipality of Canóvanas. Many of the residents lack land titles, which made them ineligible for the Federal Emergency Management Agency programs Ms. Harris aimed to promote. The area was originally an informal settlement built on public wetlands by those displaced after Hurricane Hugo in 1989.

Persons: Kamala Harris, Biden, ’ missteps, Harris’s, María Ramos de Jesús, Harris, Hugo, Ramos’s, Hurricane Maria Organizations: Department of Housing, Urban, Federal Emergency Management Agency, FEMA, Hurricane Locations: San Juan, P.R, San Isidro, Canóvanas, Puerto Ricans

☆ Why buying a home isn't likely to get much cheaper even under Biden's housing plan
▼ + stars: | 2024-03-24 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Biden has a plan to make housing more affordable, but prices might be stuck in the stratosphere. "The effect on the housing affordability crisis is going to be muted. Some of Biden's housing affordability measures would fuel demand further at a time when supply is still historically tight, according to Lawrence Yun, the chief economist of NAR. But the problem with the housing market isn't really that there isn't enough money going toward housing. It's more the red tape and the local opposition that has been the biggest barrier to building housing," Fairweather said.

Persons: Biden, —, Joe Biden's, That's, Daryl Fairweather, Fairweather, Lawrence Yun, Yun, who's Organizations: Service, NAR, Department of Housing, Urban Locations: America

☆ Biden signs government funding bill
▼ + stars: | 2024-03-23 | by ( Clare Foran | ) edition.cnn.com time to read: +2 min

CNN —President Joe Biden on Saturday signed into law the $1.2 trillion legislation that completes the funding of federal agencies through the fiscal year, which ends September 30. The House passed the package on Friday, and the Senate passed it early Saturday morning. The bill addresses a slate of critical government operations, including the departments of Defense, Homeland Security, Labor, Health and Human Services, Education, State and the legislative branch. This legislation is the second part of a two-tiered government funding process. A separate six-bill funding package, which was signed into law earlier this month, included funding for the departments of Agriculture, Commerce, Justice, Veterans Affairs, Energy, Interior, Transportation, Housing and Urban Development, as well as the Food and Drug Administration, military construction and other federal programs.

Persons: Joe Biden, Biden —, —, ” Biden, Republicans ”, isn’t, ”, Kevin McCarthy, Samantha Waldenberg Organizations: CNN, Defense, Homeland Security, Labor, Health, Human Services, Education, State, Republicans, Administration, Agriculture, Commerce, Justice, Veterans Affairs, Energy, Housing, Urban, and Drug Administration Locations: Wilmington , Delaware, “, Transportation

☆ Border policy a key sticking point in Congress with shutdown deadline just days away
▼ + stars: | 2024-03-18 | by ( Clare Foran | ) edition.cnn.com time to read: +2 min

Lawmakers are scrambling to avert a partial shutdown ahead of a federal government funding deadline at the end of the week. The Department of Homeland Security has proven to be a particularly thorny issue in the funding fight amid partisan disagreements over border policy. Since then, lawmakers have faced a series of fiscal cliffs as a result of funding deadlines created by short-term extensions. In the Senate, lawmakers will need to reach a time agreement to pass the legislation before Friday’s shutdown deadline. The objection of any one senator could slow the process down and threaten to take lawmakers right up to, or past, the deadline.

Persons: Mike Johnson, –, Joe Biden, Johnson, Kevin McCarthy Organizations: Defense, Homeland Security, Labor, Health, Human Services, Education, State, Department of Homeland Security, Senate, Republican, Democratic, Agriculture, Commerce, Justice, Veterans Affairs, Energy, Housing, Urban, and Drug Administration, Republicans Locations: Transportation

☆ Housing Secretary Marcia Fudge is stepping down, the second Biden Cabinet member to leave the administration
▼ + stars: | 2024-03-11 | by ( Rebecca Shabad | ) www.cnbc.com time to read: +2 min

Secretary of Housing and Urban Development Marcia Fudge speaks during the daily press briefing at the White House on March 18, 2021 in Washington, DC. WASHINGTON — Marcia Fudge, who has served as the secretary of Housing and Urban Development since March 2021, is leaving the Biden administration, the White House said Monday. The White House said that after she departs, Deputy Secretary Adrianne Todman will serve as acting secretary. Fudge is only the second Cabinet secretary to leave the administration during Biden's first term as president. Before working in the Biden administration, Fudge represented an Ohio Congressional District in the House from 2008 to 2021, serving at one point as chairwoman of the Congressional Black Caucus.

Persons: Marcia Fudge, WASHINGTON, Joe Biden, Marcia, Biden, Adrianne Todman, Olivia Dalton, Fudge, Biden's, Marty Walsh, Jeff Zients Organizations: Housing, Urban, White, Urban Development, Biden, of Housing, U.S . House, Representatives, Air Force, Labor, Politico, Ohio Congressional District, Congressional Black Caucus Locations: Washington , DC, U.S, Ohio

☆ Biden signs key government funding bills into law averting shutdown
▼ + stars: | 2024-03-09 | by ( Clare Foran | Ted | ) edition.cnn.com time to read: +3 min

CNN —President Joe Biden signed a package of six government funding bills into law Saturday, a day after lawmakers raced to fund critical government departments and agencies through the remainder of the fiscal year. The White House thanked top congressional lawmakers from both parties “for their leadership” in getting the bills to the president’s desk. The Office of Management and Budget said late Friday that agencies would continue their normal operations and had ceased shutdown preparations after Congress finally passed updated funding legislation. But the work isn’t over yet: Lawmakers still need to finalize and pass a second slate of funding bills ahead of a March 22 deadline. The package also includes funding for rental assistance and other child nutrition programs, including the school lunch program.

Persons: Joe Biden, “, Biden, Mike Johnson, ”, Samantha Waldenberg Organizations: CNN, Republicans, Management, Budget, Agriculture, Commerce, Justice, Veterans Affairs, Energy, Housing, Urban Development, and Drug Administration, House Republicans, WIC, Department of Justice, Biden, ATF, FBI, Biden Administration, Caucus Locations: Transportation, China

☆ President Biden signs $460 billion spending bill to avert a partial government shutdown
▼ + stars: | 2024-03-09 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

President Joe Biden on Saturday signed a $460 billion spending bill into law, averting a partial government shutdown that would have taken effect this weekend. On Friday evening, the Senate had voted 75 to 22 to approve the package after the House passed it earlier this week. This is the fourth time this fiscal year that Congress has had to pass a short-term spending bill to keep the government funded and avert a shutdown. Democrats have been pushing for the continued full funding of a special food assistance program for women, infants and children. They also secured wins on rent assistance and pay for infrastructure employees like air traffic controllers and railway inspectors.

Persons: Joe Biden, — CNBC's Rebecca Picciotto Organizations: Chamber, U.S, Capitol, Saturday, Republicans, Environmental Protection Agency, FBI, Alcohol, Tobacco, Firearms, Explosives Locations: Washington , U.S

☆ Biden Signs Legislation to Extend Funding for Critical Departments
▼ + stars: | 2024-03-09 | by ( Peter Baker | More About Peter Baker | ) www.nytimes.com time to read: +1 min

President Biden signed a $460 billion spending package on Saturday to avert a shutdown of critical federal departments even as lawmakers continue to wrestle over a financing blueprint for many other agencies more than halfway into the current fiscal year. The president finalized the legislation before leaving his home in Wilmington, Del., to fly to Atlanta for a campaign rally. It will extend funding through the rest of the fiscal year, ending Sept. 30, for about half of the government, including the Departments of Agriculture, Energy, Justice, Transportation, Housing and Urban Development, and Veterans Affairs. In his short tenure, Speaker Mike Johnson has made clear his desire to avoid a shutdown, even to the point of relying on Democratic votes, but the path ahead remains tricky. “Thank you,” he wrote, naming the eight “for their leadership.”

Persons: Biden, Mike Johnson, ” Organizations: Agriculture, Energy, Justice, Transportation, Housing, Urban Development, Veterans Affairs, Pentagon, Homeland Security Department, Democratic, White Locations: Wilmington, Del, Atlanta

☆ Senate races the clock to pass key government funding bills ahead of shutdown deadline
▼ + stars: | 2024-03-08 | by ( Clare Foran | Ted | ) edition.cnn.com time to read: +3 min

The Senate is racing the clock to pass a package of six government funding bills ahead of a shutdown deadline at the end of the day Friday. Once the package of funding bills passes the Senate, it can be sent to President Joe Biden to be signed into law as the House passed the measure on Wednesday. The finalized package of spending bills – backed by the top Democrats and Republicans in both chambers – represents a major breakthrough for lawmakers. But the work isn’t over yet: Lawmakers still need to finalize and pass a second slate of funding bills prior to the March 22 deadline. The package also includes funding for rental assistance and other child nutrition programs, including the school lunch program.

Persons: Joe Biden, Mike Johnson, Biden, “ Organizations: Lawmakers, Republicans, Agriculture, Commerce, Justice, Veterans Affairs, Energy, Housing, Urban Development, and Drug Administration, House Republicans, WIC, Department of Justice, Biden, ATF, FBI, Biden Administration, Caucus Locations: Transportation, China

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