Trump Administration Targets Cuts to CDFI Program Again, but Touts Its Success

Credit Union Times
Monday, February 10, 2020

Although his own Treasury Department calls the Community Development Financial Institutions program a "thriving model of public-private partnership," President Trump on Monday once again proposed eliminating the program. The proposal was included in the Trump Administration's $4.8 Trillion FY21 budget released Monday. This year, the program received a $12 million increase, to $262 million, in the end-of-year spending deal enacted in December. The proposed cuts came even after Treasury Secretary Steven Mnuchin told a House appropriations subcommittee in April that the administration had not conducted research into the program's impact.