On September 28, President Trump signed HR 6157, a minibus spending package that provides fiscal year (FY) 2019 appropriations for the Departments of Defense, Labor, Health and Human Services, and Education. The legislation also includes a continuing resolution (CR) for federal agencies whose appropriations bills were not completed before the end of the fiscal year including the CDFI Fund, avoiding a partial government shutdown.
Congress came close to finalizing the CDFI Fund’s budget as part of HR 6147, a four-bill minibus that included the fiscal year (FY) 2019 Agriculture, Transportation-HUD, Interior-Environment and Financial Services and General Government spending bills. After weeks of negotiation, House and Senate appropriators were ultimately unable to reach a compromise in time to vote before the end of the current fiscal year.
Under the continuing resolution, the CDFI Fund will be funded at the FY 2018 level of $250 million until Congress completes the remaining FY 2019 appropriations bills during the “lame duck” session following the midterm elections.