Today, September 6, Congress returns from a seven week recess to wrap up business before the end of this fiscal year (FY). In July, the House passed H.R. 5485, the FY 2017 Financial Services and General Government (FSGG) Appropriations Act, but the Senate had yet to vote on its version of the FSGG Appropriations Act, S. 3067. The FSGG Appropriations bill provides funding for the CDFI Fund. At this time, it is unclear whether the Senate will vote on an FSGG Appropriations bill before the end of this fiscal year.
What does this mean for the CDFI Fund in FY 2017?
Passing legislation which funds our government is one of the most fundamental duties bestowed upon Congress by our Constitution. Congress must pass appropriations bills by September 30 in order to fund the government. Should it fail to do so, Congress will need to pass a Continuing Resolution (CR) that will temporarily extend funding for federal government programs, including the CDFI Fund. The CR would most likely fund the government at current FY 2016 levels until a longer term spending agreement is reached. As we get more information on a potential CR or other spending bill, we will provide you with updates and ways to engage with lawmakers.
During this time we want to encourage Members to access OFN’s Member Portal for a range of advocacy tools to use when communicating with members of Congress and staff. If you have not already, create an account and sign into the portal.
Stay tuned for further policy updates on the FY 2017 appropriations process, the pending CR, and ways to reach out to your members of Congress.