WASHINGTON — The Senate Appropriations Committee has followed the example of its counterpart in the House by recommending significant increases in the budget for the U.S. Treasury Department's Community Development Financial Institutions fund.
In June the House Appropriations Committee recommended $100 million for the Fund, $71.4 million above the budget request and roughly $46 million above the amounts provided in fiscal year 2007. The Senate committee's recommendation of $90 million is $36 million above the fiscal year 2007 enacted level and roughly $2 million above the budget request.
The CDFI Coalition, a group of CDFI's that supports the Fund, said it is not clear when the full Senate or House may pass their versions of the appropriations legislation.
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