House Appropriations Committee
Financial Services and General Government Subcommittee
06/23/2025 at 06:00PM
Subcommittee markup.
| Department of the Treasury | ||
|---|---|---|
| Program Name | $ Change from 2025 Enacted (in millions) | Brief Description of Program and Recommended Reduction or Increase |
| Increases | ||
| Rural Financial Award Program | +100 | The Budget creates a new $100 million award program that would require 60 percent of Community Development Financial Institutions’ (CDFIs’) loans and investments to go to rural areas. |
| Cuts, Reductions, and Consolidations | ||
| Internal Revenue Service (IRS) | -2,488 | The Budget reflects a planned 40% cut in personnel. |
| CDFI Fund Discretionary Awards | -291 | The Budget recommends eliminating CDFI Fund discretionary awards. |
| Small Business Administration (SBA) | ||
| Cuts, Reductions, and Consolidations | ||
| Entrepreneurial Development Programs (EDP) Consolidation | -167 | Therefore, the Budget ends 15 programs, leaving only the Small Business Development Centers (SBDCs) program. Eliminated programs include Women’s Business Centers and SCORE. |
| Salaries and Expenses (S&E) | -111 | The Budget provides $250 million for SBA’s S&E. The reduced S&E request also reflects a reduction in staffing costs associated with consolidating the Agency’s EDP. |