This week Chris Myers, Co-Founder and CEO of Bode Tree wrote an op-ed for Forbes regarding the recent budget proposal for FY18 by the Trump Administration. Here is an excerpt, "
While most people, politicians, and pundits opposed to the President’s policies focus their ire towards proposed cuts to the Environmental Protection Agency, Department of Education, and yes, even PBS, one of the most damaging and controversial proposals is going largely unnoticed.
Halfway through the Treasury Department’s barely two-page overview is an unassuming bullet point that proposes the elimination of the little-known “Community Development Financial Institutions Fund,” more commonly referred to as the CDFI Fund. The elimination of the CDFI Fund may not seem as controversial as say, cutting off funding to PBS, but the short-term impact may be far more significant.
In fact, I believe that the elimination of this program would be catastrophic for America's small businesses."
Myers goes on to give an overview of the industry, and detail the importance of CDFIs to the U.S. economy, emphasizing how small businesses and rural communities would be hit hardest by the proposed cuts.
Read the full piece here.