This Wednesday, the House was scheduled to debate H.R. 5485, the Fiscal Year (FY) 2017 Financial Services and General Government Appropriations Act. This bill contains the House Appropriations Committee $250 million request in funding for the CDFI Fund. In addition, there were several amendments on the schedule including an amendment from Rep. Sean Duffy (R-WI) and Rep. Tom Marino (R-PA) that would reduce CDFI Fund appropriations by $20.7 million. OFN put out a call to our Members and Allies to demonstrate to House members our industry's strong opposition to the amendment.
OFN Members and Allies answered the call, and led incredible outreach efforts with less than 24 hours' notice. As a result of your efforts, OFN heard back from multiple congressional offices confirming their support for CDFIs and opposition to the Duffy-Marino amendment. The House did not vote on H.R. 5485 or the Duffy-Marino amendment as originally planned, and is now in recess until July 5. They have not yet rescheduled debate on H.R. 5485.
OFN will continue to advocate on behalf of CDFIs during the congressional recess to ensure we secure sufficient support to stop the Duffy-Marino amendment, as well as preserve strong funding for the CDFI industry in FY 2017. Please be on the lookout for further updates. If you have any policy questions, please contact Jennifer Vasiloff at email@example.com.