Before the Senate left for recess, members of the bipartisan Senate CDFI Caucus sent a letter to OMB Director Russell Vought requesting FY 25 funding be deployed to the CDFI Fund.
In Context: The caucus sent a letter to Treasury Secretary Scott Bessent in March after President Trump issued an executive order directing agencies to eliminate the CDFI Fund.Why It Matters: Senators are still searching for answers while it remains uncertain whether President Trump can unilaterally dissolve the CDFI Fund. In President Trump’s FY 26 Budget Request to Congress, he eliminated all of the $191 million funding for the program.
