CDFA joined the New Markets Tax Credit Coalition (NMTCC) in urging Congress to make the new market tax credit (NMTC) permanent as part of the end-of-the-year legislative package. The NMTC has a 20-year record of financing small businesses, daycare centers, business incubators, manufacturing expansions, and other revitalization projects that strengthen communities and generate long-term economic growth.

The U.S. Department of the Treasury announced the approval of California's application for funding under the State Small Business Credit Initiative (SSBCI) for up to $1.1 billion. With its SSBCI funds, California will operate six programs expected to create jobs, drive key investments in underserved entrepreneurs, and increase small business lending over the long term.

The Inflation Reduction Act contains a long-in-the-making climate policy poised to supercharge the green banks' ability to support the US ambitious climate goals while making the energy transition more inclusive. The bill's landmark $369B climate and energy spending package provides $27B for the Greenhouse Gas Reduction Fund for the U.S. EPA to kick-start projects aimed at lowering the country's greenhouse gas emissions.

Federal officials announced the release of $32.5M for pedestrian improvements along Flagstaff's Downtown Mile, the largest portion of what one official said will be biggest transit investment in the city in years. The Flagstaff project was one of 26 announced by the U.S. Department of Transportation, part of a $1.5B released in the latest round of funding under the Bipartisan Infrastructure Act.

North Carolina will receive $100M in federal grant funding from the Bipartisan Infrastructure Law to make improvements along the vital corridor of Interstate 85 between Charlotte and the South Carolina line. The N.C. Department of Transportation will receive $100M in Infrastructure Rebuilding America (INFRA) grant funding for its I-85 Funding Transportation Utilizing Resilient, Equitable Solutions project

Congressman Steven Horsford announced a $5.2M grant from U.S Department of Commerce's Economic Development Administration for the Walker River Paiute Tribe in Schurz, NV. The funding will be used to boost business development and job growth in the region by improving the local water system infrastructure and is made possible by the American Rescue Plan Act.

As the U.S. House of Representatives takes up the more than $700B economic package that includes healthcare, tax, and climate change, White House officials and climate justice activists said the bill would greatly benefit people of color.

The US EPA announced that it is establishing the Office of Environmental Justice and External Civil Rights. The new office will oversee the implementation and delivery of a $3B climate and environmental justice block grant program created by the Inflation Reduction Act, a critical component of the law's historic $60 billion investment in environmental justice.

The Nashville, TN-based Metro Water Services received a $315M WIFIA loan to increase water treatment capacity, reduce emerging contaminants, and mitigate water quality issues during extreme weather events.

As of September 27, 2022, the Economic Development Administration has processed and awarded all of the $3B in American Rescue Plan funding. The money funded 780 grants and is expected to generate more than $20B of private investment and to create, save, or place 220,000 jobs.

The U.S. Department of Agriculture will send more than $500M in loans and grants to telecommunications providers to bring high-speed internet to rural areas across 20 states. The department will spend $360M in grants and $141M in loans through its ReConnect Program to benefit sparsely populated communities, including in Alaska, Colorado, Kansas, Nebraska, Michigan, Minnesota, Iowa, Missouri, Montana, North Carolina, Oregon and Tennessee.

The Department of the Treasury has made over $8.28B of investments in 162 community financial institutions across the country through the Emergency Capital Investment Program (ECIP). These funds will support the efforts of community financial institutions to provide loans, grants, and other assistance to small and minority-owned businesses and consumers, especially in low-income and financially underserved communities that struggled during the COVID-19 crisis. 

The U.S. Environmental Protection Agency awarded $121M in Bipartisan Infrastructure Law funding to Colorado for water infrastructure improvements. The grant marks the first significant distribution of water infrastructure funds thanks to the Bipartisan Infrastructure Law. State allocations were previously announced.

The US EPA awarded over $63M in Bipartisan Infrastructure Law funding to Vermont for water infrastructure improvements. Planned projects in Vermont that the Bipartisan Infrastructure Law will fund include lead line replacement projects, as well as projects to address PFAS contamination. A host of other projects are slated for funding in the state through this new increase in funding.

The USDA announced a $75M investment that will provide clean drinking water and sanitary wastewater systems to thousands of rural people residing in Greenbrier County, WV. The investments are being made through USDA's Water and Waste Disposal Loan and Grant Program.