Policy and Advocacy

FY18 CDFI Fund Appropriations

The House passed the Financial Services and General Government (FSGG) Fiscal Year (FY) 2018 Appropriations bill in July. The bill includes a top-line for CDFI Fund at $190 million and, while this is $58 million below the FY 17 level, it is $176 million more than the request in President Trump’s budget. The President’s budget proposed to eliminate all of Fund’s grant money with a small amount requested for administration of the New Markets Tax Credit, Capital Magnet Fund and the Bond Guarantee program. As we have reported previously, the Heritage Foundation, which played major role in the transition effort, had recommended elimination of the Fund.

In late November 2017, the Senate FSGG Appropriations Subcommittee unveiled its FY 18 bill, maintaining appropriations for the CDFI Fund at the historic $248 million FY 17 level. This bill is not expected to be marked up and will instead be used for negotiations on a final FY 18 appropriations bill.

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.

Treasury Programs FY 17 Final FY 18 Budget FY 18 House FY 18 Senate FY 18 Final
CDFI Fund 248 14 190 248
CDFI FA/TA Grant Programs 161.5 0 137 181.5
Native Initiative 15.5 0 15 15.5
Healthy Food Financing Initiative 22 0 0 0
Bank Enterprise Award 23 0 15 25
Capital Magnet Fund*
Admin and Research 26 14 23 26
Disabilities Fund** 3 3
Bond Program 500 500 500 500
* mandatory account authorized under the Housing and Economic Recovery Act of 2008 and proposed for repeal in 2018 ** set-aside from the FA/TA appropriations