Senator Mike Crapo (R-ID) and Representative Young Kim (R-CA) have sent a letter to Treasury Secretary Scott Bessent and Office of Management and Budget Director Russell Vought reaffirming support for the Community Development Financial Institutions (CDFI) Fund. They are urging the Trump Administration to continue carrying out the statutory obligations of the Fund, emphasizing its elimination will negatively impact the economy long-term. An additional 103 Republican Members of Congress signed the letter.

Among those signing the letter are Senator Thom Tillis and Representatives Chuck Edwards, Pat Harrigan, Addison McDowell, and Tim Moore. They noted that CDFIs “play an important role in supporting economic development in rural and underserved communities in our states.”

The signees also noted investments in CDFIs made during President Trump’s first term, and said that the One Big Beautiful Bill Act made permanent the New Markets Tax Credit Program, which the fund oversees. In addition, the letter argues that CDFIs help to expand the nation’s housing supply.

A group of 120 Congressional Democrats have now written in support as well, with Representatives Alma Adams and Deborah Ross signing on.

Author: sdbrownlow

Student of Design