Several congressional Republicans say they do not support a proposal by President Trump to redirect funds away from the Community Development Financial Institutions Fund, which the administration has derided as a “woke” program, Politico Pro recently reported.
The administration’s proposed budget for the upcoming fiscal year would strip the CDFI Fund’s ability to allocate discretionary awards. It would instead allocate $100 million to create a Rural Financial Award Program, with 60% of CDFI loans and investments going to rural communities. In its justification for the change, the White House said award factors such as advancing racial equality “framed American society as inherently oppressive rather than fostering unity.”
Politico Pro contacted several congressional Republicans from red states that has received awards from the CDFI Fund in the past. House Financial Services Committee Chairman French Hill (R-Ark.) told the publication that he is “generally supportive” of the program. Sen. Thom Tillis (R-N.C.) and Rep. Troy Downing (R-Mont.) said it was up to lawmakers to defend the fund’s success. Others expressed similar sentiments.
“I think there’s a lot of us that would disagree with taking it out,” Sen. Mike Rounds (R-S.D.) told Politico Pro.
