Congress has yet to finalize an agreement on FY2018 spending levels, and work is already starting on the FY2019 appropriations process. Earlier this month, President Trump released his budget proposal and once again recommended elimination of the CDFI Fund grant programs in fiscal year (FY) 2019, and Congress is now starting to develop their legislative proposals for discretionary spending.
The House Appropriations Committee is collecting feedback from Members on their FY2019 spending priorities. Many Representatives have set a March 12 deadline for FY2019 requests related to the House Appropriations Subcommittee on Financial Services and General Government (FSGG), the committee with jurisdiction over the CDFI Fund.
We need the CDFI industry to contact their Representatives and urge them to support $248 million for the CDFI Fund and $500 million for the Bond Guarantee Program in FY2019.
The House Appropriations Committee leadership, including FSGG Subcommittee Chairman Tom Graves (R-GA-14) and Ranking Member Mike Quigley (D-IL-5) will be looking closely to see how many Members of Congress submit requests supporting the CDFI Fund at $248 million. We need as many Representatives as possible - Democrats as well as Republicans - to make this appropriations request. CDFIs across the country can help support the CDFI Fund program by encouraging their Representative to submit this funding request.
The timeline to submit requests to the House is very tight this year. Please contact your elected officials TODAY and urge them to submit an appropriations request for the CDFI Fund in FY2019.
Thank you for your advocacy!