On July 18, the House of Representatives voted in favor of three amendments aimed to increase the overall FY19 appropriation for the CDFI Fund to $223 million.
A voice vote was held, and all three amendments were accepted:
- Representatives Young (R-AK), Moore (D-WI), Hanabusa (D-HI), and Gabbard (D-HI): Increases funding for the Native American CDFI Assistance Program (NACA) by $2 million
- Representative Lujan-Grisham (D-NM): Increases funding by $5 million for FA/TA offset by the corresponding reduction from the General Services Administration (GSA) Federal Buildings Fund
- Representatives Palazzo (R-MS) and Krishnamoorthi (D-IL): Allocates $25 million increase in CDFI funds approved in the Appropriations Committee Markup
This moves the CDFI Fund from FY 19 House Subcommittee figure of $191 million to a new figure of $223 million, an increase of $32 million. This is still below the FY 18 amount of $250 million. The appropriations process will continue over the next few weeks, as the House bill moves to the Senate. The Senate Appropriations Committee bill provides $250 million for the CDFI Fund for FY19.
This positive outcome in the House would not have been possible without the advocacy of CDFIs and their supporters. Thank you! Please continue to advocate on behalf of the CDFI Fund as the appropriations debate in Congress continues.