Policy and Advocacy

FY20 CDFI Fund Appropriations

The White House has released the details of President Donald Trump’s $4.7 trillion fiscal 2020 budget request in February 2019. President Trump’s FY 2020 budget proposal, like last year, proposes the elimination of the CDFI Fund’s grant programs, including Bank Enterprise Award (BEA) Program, CDFI Program, the Native American CDFI Assistance Program, and the Healthy Food Financing Initiative.

The proposal provides just $14 million for administrative funding for oversight of existing commitments and administration of the CDFI Fund’s other programs, like the New Markets Tax Credit and the Bond Guarantee Program. It also permanently rescinds the $25 million in unobligated BEA funds. 

  • View the budget appendix, which contains detailed agency-by-agency information. 

The CDFI Coalition successfully worked with Congress to secure an increase in appropriations for FY 20 CDFI Fund appropriations.

After two Continuing Resolutions, Congressional leaders  reached an agreement in late December 2019, passing all 12 Fiscal Year (FY) 2020 appropriations bills to fund the federal government through October 1, 2020. The President signed the $1.4 trillion deal on December 20th. 

The Financial Services and General Government Appropriations provision provides $262 million for the CDFI Fund Programs–an increase of $12 million over the FY 19 enacted level. This is the largest appropriation in the history of the CDFI Fund. Chart with full appropriations details at the bottom of this section.

The FY 20 increase continues a decade long, upward trend in federal resources for the CDFI Fund.

TAKE ACTION: 2019 In-District Advocacy

A picture is worth a thousand words, as the saying goes, but we know that seeing your work firsthand is invaluable when it comes to getting Members of Congress’ support for CDFI Fund Programs. There is no substitute for a tour of an CDFI-financed business, visiting a project under development, or taking part in a ribbon-cutting—events where legislators can meet and hear about the important role CDFIs play in the community directly from constituents and local officials. This kind of interaction leaves a large and lasting impression of the effectiveness of the CDFI community.
We encourage CDFIs to engage with their Members of Congress while they are in the state or district and have created a toolkit of information to help you in your efforts--no matter the amount of time you have to dedicate. It contains tips for powerful actions to cultivate a new relationship or nurture an existing relationship with your Senators and Representatives at home and—most importantly—demonstrate the importance of the CDFI Fund appropriations in the face of persistent and stubborn credit gaps that are so pervasive in low-income urban and rural communities.

View the Toolkit

FY19 CDFI Fund Appropriations

Congress has enacted Fiscal Year (FY) 2019 appropriations funding the Departments of Defense and Labor, Health & Human Services and Education (H.R. 6157) and the Departments of Energy, Veteran Affairs, Military Construction and for Congress (H.R. 5895). Left behind was funding for the Departments of Agriculture, Interior, Treasury, Transportation and HUD (HR 6147), as well Homeland Security (H.R. 6776/S. 3109), Commerce and Justice (H.R. 5962/S. 3072) and State (H.R. 6385/ S. 3108). These agencies and programs in were funded at the FY 18 rate through February 15, 2019 under a Continuing Resolution (CR). 

Fact Sheets and Other CDFI Resources

The CDFI Coalition and other members have weighed-in with Treasury Secretary Mnuchin in support of the CDFI Fund.

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