Senate Appropriations Committee
Financial Services and General Government Subcommittee
138 Dirksen
06/11/2025 at 04:00PM
Subcommittee hearing.
Chair Bill Hagerty
Witness:
- Scott Bessent, Secretary, Department of the Treasury
| Program Name | $ Change from 2025 Enacted (in millions) | Brief Description of Program and Recommended Reduction or Increase |
|---|---|---|
| Department of the Treasury | ||
| Increases | ||
| Rural Financial Award Program | +100 | The Budget creates a new $100 million award program from a limited CDFI program. This new program would require 60 percent of Community Development Financial Institutions’ (CDFIs’) loans and investments to go to rural areas. |
| Internal Revenue Service (IRS) | -2,488 | The Budget significantly reduces the IRS budget. |
| CDFI Fund Discretionary Awards | -291 | The Budget recommends eliminating CDFI Fund discretionary awards, including climate reisiliency. |