Public Policy

Happy Friday! We wanted to provide a brief update on policy activity in DC.  

On January 18, Congress passed a continuing resolution to keep the government funded at fiscal year (FY) 2023 levels. In a bit unorthodox manner, the deadlines have been split and pushed back (again) to March 1 for Departments of Transportation, Housing and Urban Development, Energy, Veterans Affairs, and Agriculture and March 8 for the rest of the federal agencies, including Treasury and the CDFI Fund. Our blog covers the threats to cut funding for the Fund.  

What does this mean? Negotiations are still ongoing! So, our voice as an industry can still make a difference. Go to our Take Action page to find our Appropriations Advocacy tools. It takes less than a minute to submit a note to your members of Congress letting them know how important funding for the CDFI Fund is to their district/state.  

Additionally, applications for Capital Magnet Fund (CMF) opened earlier this week. You can find the Notice of Funds Availability here. For the FY 2024 funding round the CDFI Fund plans to award $246.5 million in grants and will not accept applications with requests less than $500,000. You can read more about FY 2023 CMF awards here.  

Please let us know if you have any questions about these developments or other policy priorities.