Omnibus Bill Has Money For CDFI

ARLINGTON, Va. – Supporters of the U.S. Treasury Department’s Community Development Financial Institutions Fund report that House and Senate budget negotiators have approved $61 million in federal funding for the CDFI fund. The amount represents roughly $10 more than the House had approved earlier this year and roughly $9 million less than the Senate had approved. But despite not being the higher Senate level, supporters are still celebrating the appropriations compromise. “While less than the Senate’s level of $70 million, this funding level nevertheless represents a victory for CDFI advocates,” the Arlington based CDFI Coalition reported. In previous years when there has been a discrepancy in funding levels for the CDFI Fund between the House and the Senate, conference negotiators have chosen the lower of the two funding levels. Not having that happen this year represents a victory, the group said.