CDFI Fund Policy Update
President Trump is expected to release his budget proposal tomorrow Thursday, March 16th. Calling for a dramatic $54 billion increase in military spending, he is expected to call for significant cuts to domestic discretionary funding, which according to the New York Times, calls for a CDFI Fund that is "all but eliminated" from the federal budget.
The President's proposal however, is just the first step in the federal budgeting process. As Congress holds the purse strings and oversees the final decisions on appropriations. CDBA is actively working to educate congressional legislators on the vital role that CDFI banks play in their communities and the role that the CDFI Fund plays in supporting CDFIs.