Update on Congressional Letter Supporting the CDFI Fund and its Programs
On October 15, Senator Mike Crapo (R, ID), Chairman of the Senate Finance Committee, and Representative Young Kim (R, CA) released a draft letter to Treasury Secretary Bessent and OMB Director Vought. Sen. Crapo and Rep. Young are circulating the letter to Congressional Republicans for signature.
Current Signatures:
Senate: Crapo (R-ID), Murkowski (R-AK), Collins (R-ME), Wicker (R-MS), Hyde Smith (R-MS), Daines (R-MT)
House: Kim (R-CA), Valadao (R-CA), Carter (R-GA), Miller-Meeks (R-IA), Huizenga (R-MI), Moolenaar (R-MI), Ezell (R-MS), Guest (R-MS), Downing (R-MT), Edwards (R-NC), Lawler (R-NY), Tenney (R-NY), and Garbarino (R-NY).
The letter supports the CDFI Fund and the “role it plays in supporting our shared goal of creating economic prosperity throughout the country.” The letter cites the success of the CDFI programs, including Financial Assistance, Bond Guarantee, the New Markets Tax Credit, and the Capital Magnet Fund, in providing flexible patient capital to small businesses, creating jobs, and increasing the supply of affordable housing. The letter specifically notes the important role that CDFIs play in the viability of local economies, specifically in rural areas.
The Crapo-Young letter provides Republican Senators and Representatives with the opportunity to indicate their support for the CDFI Fund and its programs to the Administration.
Below you will find a sample email to send to staffers, a target list, and other resources. If you have questions or need contact information not included on the target list, please contact Madison Smith at madison@rapoza.org.
The closing date for the letter is October 22. Please get in touch with your Senator and Representative today to support the Crapo-Young letter.
