On Thursday, December 7, Congress passed a short-term spending bill that will extend the fiscal year (FY) 2018 Continuing Resolution (CR) from December 8 to December 22, 2017. The House passed the bill by a 235-193 vote while the Senate passed the bill by an 81-14 vote. The President is signed the bill into law on Friday. This two-week CR averts a government shutdown.
Over the next two weeks, members of Congress will be negotiating the funding levels for all federal programs, including the CDFI Fund. As you know, the House Financial Services and General Government (FSGG) Appropriations bill set funding for the CDFI Fund at $190 million while the Senate FSGG Appropriations bill allocated $248 million. Both House and Senate bills provide $500 million in guarantee authority for the CDFI Bond Guarantee Program.
From now until December 22, your Representatives and Senators as well as members of the House and Senate Appropriations Committees need to hear from you, your staff, and borrowers on how funding from the CDFI Fund has helped benefit your community and why funding for the CDFI Fund in FY18 should be preserved at $248 million.
To assist you in your advocacy efforts, OFN has prepared a toolkit that includes talking points, congressional offices contact information, and Twitter handles for Appropriators.
View our FY18 CDFI Fund Appropriations Toolkit and contact your Representatives and Senators TODAY!
Thank you for your continued advocacy as we work with you and our partners to preserve funding for the CDFI Fund in FY18 at $248 million.