Lawmakers have agreed to budget $324 million for the Community Development Institutions Fund in fiscal year 2026, which would maintain the program’s funding at current levels, according to a conference report released this week by the Senate Appropriations Committee.
The committee last year drafted a spending bill that allocated $324 million for the CDFI Fund, which was $190 million above the White House budget request and nearly $80 million higher than the budget recommendation put forward by the House.
The agreement came less than a month after the Treasury Department announced it had directed the CDFI Fund to modify its New Market Tax Credits program allocations to ensure compliance with federal anti-discrimination laws. The department will also increase monitoring of award recipients. In addition, the CDFI Coalition noted the administration has only allotted $35 million of the $325 million appropriated for fiscal year 2026, with that funding set to expire on Sept. 30.
