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President’s 2016 Budget Requests $233.5 mn for CDFI FUND
President’s 2016 Budget Requests $233.5 million for Treasury’s CDFI Fund. This funding would extend the CDFI Fund’s efforts to spur economic development and job growth in underserved communities. The requested amount includes $157.5 million for the Community Development Financial Institutions Program, a $5 million increase from FY 2015. The Budget also proposes permanently extending the New Markets Tax Credit Program at $5 billion per year and extending the CDFI Bond Guarantee Program through FY 2017.
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