With news that Representative Jeb Hensarling (R-TX) seems to be a finalist for the Secretary of the Treasury job, CDFI advocates need to consider which would be worse: Hensarling @ Treasury or Hensarling remaining as Chairman of the House Financial Services Committee.
Either way, Hensarling is one of the most vocal critics of The CDFI Fund.
Neither position Hensarling final say on the Fund’s future–@Treasury that would be up to the “court” politics of the Trump White House and in the House the Appropriations Committee gets final say on funding (or not) of the Fund.
It is reasonable to think that Hensarling @Treasury would urge the President to de-fund the Fund, though his aides on the job might push back. Same for the House, although there the pushback would come from appropriators who have some good feelings for the Fund.
Either way, the future of the CDFI Fund will be subject to Hensarling’s influence like never before.