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