The Trump Administration again is proposing to eliminate funding for the Community Development Financial Institution Fund's grant and direct loan programs.
In unveiling its FY19 budget, the administration renewed a proposal from last year's budget. However, that plan was not accepted by Congress, which has the ultimate responsibility to appropriate funds for programs like CDFIs. Congress is still working on finalizing FY18 funding for programs subject to the appropriations process.
The $4.4 trillion budget would add $7 trillion to the federal deficit. It includes large increases in defense spending, paid for by cuts in domestic spending. Congress is unlikely to accept many of those cuts.
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