June has been a busy month on Capitol Hill as both the House and Senate Appropriations Committees approved their respective FY 2019 funding levels for the CDFI Fund.
On May 8, OFN’s Board of Directors met with senior officials from the Department of Treasury and staff from the Senate FSGG Appropriations subcommittee.
OFN strongly opposes the elimination of funding for the Department of Treasury’s Bank Enterprise Award (BEA) program and the Capital Magnet Fund (CMF) as proposed by the rescissions package released earlier this week by the Trump Administration. Today, OFN sent a letter expressing our position to the Chairs and Ranking Members of the Appropriations Committees and FSGG Subcommittees.
This month, the retirement of longtime Senator and Appropriations Committee Chairman Thad Cochran (R-MS) resulted in a shuffling of subcommittee leadership.