Policy and Advocacy
FY19 CDFI Fund Appropriations
The Fiscal Year (FY) 2019 Appropriations process is currently underway. The President’s Budget proposed the elimination of funding for CDFI grant programs and the Capital Magnet Fund–the same request as the FY 18 budget. However, the FY 18 Appropriations omnibus that was signed into law on March 23rd, provided $250 million for CDFI Fund Programs, the highest level in the history of the CDFI Fund.
The House Financial Services and General Government (FSGG) Appropriations Subcommittee bill as released provided $191 million for CDFI Fund Programs. During the full Appropriations Committee markup, an amendment was offered by Rep. Palazzo (R-MS) providing an additional $25 million. The amendment was approved, bringing the total appropriation level to $216 million for CDFI Fund Programs.
Fact Sheets and Other CDFI Resources
- Organization sign-on letter supporting CDFI Fund appropriations
- Organization sign-on letter opposing CMF and BEA rescissions
- FY 2019 CDFI Fund Appropriations Senate Sign-on Final
- House Dear Colleague and Sign-on Letter for FY 19 Appropriations
- State Fact Sheets
- FY 19 Appropriations Fact Sheet
- General CDFI Fact Sheet
- Credit Builders Alliance Survey on the need for CDFI financing
- This data reveals:
- Many borrowers are still declined for credit by main stream financial institutions and CDFIs offer a path to access credit
- CDFIs are widely respected and trusted in their communities
- CDFIs are often the only affordable lender in their community
- This data reveals:
The CDFI Coalition and other members have weighed-in with Treasury Secretary Mnuchin in support of the CDFI Fund.
TAKE ACTION: 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.
FY 18 Final
FY 19 Budget
FY 19 House/Palazzo Amendment
FY 19 Senate
FY 19 Final
CDFI FA/TA Grant Programs***
Healthy Food Financing Initiative
Bank Enterprise Award
Capital Magnet Fund*
Admin and Research
* mandatory account authorized under the Housing and Economic Recovery Act of 2008 and proposed for repeal in 2019
** set aside within FA/TA
*** 10 percent set aside for Persistent Poverty counties