The bill, H.R. 41, provides a temporary increase in FEMA's borrowing authority for the National Flood Insurance Program (NFIP), from $20.725 billion to $30.425 billion. The NFIP is expected to run out of money by next Monday.
The bill designates the $9.7 billion increase in borrowing authority as an emergency requirement under the Pay-As-You-Go Act, meaning it does not have to be offset with spending cuts.
The House and Senate will also meet together at 1 p.m. to count electoral votes from the November election.
Thursday saw passage of a flurry of resolutions in both the House and Senate dealing with their own daily processes, naming various officials of each chamber and making committee assignments official.