OFN Board Advocates for CDFI Priorities on Capitol Hill

June 20, 2025 – 

OFN’s Board of Directors met with 18 offices on Capitol Hill to discuss CDFI Fund appropriations and tax policy.

Read time: 3 minutes

Each May, the OFN Board of Directors gathers in Washington, D.C., to spend a full day dedicated to CDFI advocacy on Capitol Hill. This year, the board met with members of Congress representing 13 states and committee staff overseeing appropriations and reconciliation to push for CDFI spending and tax priorities. 

Appropriations

Multiple offices, including staff from the Senate and House Appropriations Committees, underscored the constrained spending environment for the next four fiscal years. As a result, a lower topline allocation for the Financial Services and General Government (FSGG) appropriations bills is expected. Although CDFIs continue to enjoy bipartisan support on the Hill, due to these limited resources, it is critical that the industry remains vocal on continued appropriations for the CDFI Fund and coalesces around core spending priorities.  

OFN’s Board emphasized the importance of sustaining the core programs of the CDFI Fund and building onto the existing work that aims to serve communities across the country.

See more photos on OFN’s Facebook page.

Reconciliation

While the board showed their appreciation to House Ways & Means Committee staff for the inclusion of Low-Income Housing Tax Credit (LIHTC) provisions in the recently passed House reconciliation package, board members also stressed the urgency of extending the New Markets Tax Credit (NMTC) left out of the bill. From conversations with NMTC champions such as Senate Finance Committee member Steve Daines (MT), there is opportunity for NMTC extension to be folded into the Senate version of the reconciliation bill with enough pressure on Republican Senate Finance Committee members. OFN has continued to meet with Finance Committee Republicans and was encouraged to see NMTC permanence and LIHTC enhancement in the Senate draft bill.  

However, if NMTC extension is not achieved through the reconciliation process, both House and Senate committees overseeing tax plan to push for a tax extenders package at the end of the year to preserve the popular tax credit.

Strengthening Overall CDFI Support on the Hill

The board took the opportunity to educate offices that are emerging CDFI supporters, and those not as familiar with CDFIs, about the impactful work in their districts. Board members met with Reps. Dusty Johnson (SD-AL), Jerry Nadler (NY-12), Roger Williams (TX-25), Michael Cloud (TX-27), and others to build a larger coalition of bipartisan allies on the Hill and reinforce existing support. 

This work doesn’t stop with our board. We need every CDFI professional and ally to get involved!

Can’t make it to D.C.? Make your voice heard by visiting OFN’s take action page to help us advocate for $324 million for the CDFI Fund during FY 2026 appropriations. 

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Tags: CDFI Leadership, Community Development, OFN, Public Policy