The U.S. Department of Treasury announced an additional group of nine state plans approved under the State Small Business Credit Initiative. Treasury has approved more than $1.5 billion in funding to promote small business growth through SSBCI. These recipients under the SSBCI program plan to target key industries and small businesses in need of access to capital.

On July 28, 2022, Senate Democrats announced the Inflation Reduction Act of 2022. The bill proposes to reduce budget deficits to fight inflation by establishing a 15% minimum corporate tax and closing certain tax loopholes, while also investing nearly $370 billion in domestic energy production, manufacturing, carbon emissions reduction, and other initiatives to fight climate change. Upon enactment of the bill, CDFA will provide an in-depth analysis as to how the bill's provisions will impact its members and the communities they serve.

Vice President Kamala Harris announced a new coordinated effort by six federal agencies – the Departments of the Treasury, Commerce, Transportation, Housing and Urban Development, and Agriculture and the Small Business Administration— to maximize federal dollars flowing into underserved communities, including communities of color, rural, and Tribal communities.

The court ruled last month that if a state chooses to subsidize private education, it cannot disqualify some private schools solely because of religious affiliation. The ruling could change the way some issuers go about certain financings, public finance lawyers said.

The House Ag Committee heard calls to raise the limits on USDA farm loans and to streamline rules to accommodate a diversity of farmers. Five panelists and multiple witnesses spoke at the farm bill hearing highlighting the need for higher credit limits for loans serving young, beginning and underserved farmers to keep up with high land prices and inflation.

Senate Democrats are searching for creative ways to get climate legislation over the finish line this Congress. One of those new ideas is year-end tax extenders, and the demise of their climate bill has Democrats hoping they can revive some of their clean energy agenda in the lame-duck session.

The House Committee on Transportation and Infrastructure has approved legislation that includes a series of significant reforms designed to make federal disaster assistance more accessible to disaster survivors. 

A top Senate Republican plans to introduce legislation that is designed to provide targeted relief to lower- and middle-income Americans who are struggling financially due to rising consumer prices by indexing certain tax benefits to inflation.

Funding abandoned mine land reclamation is lifesaving for local communities. The passage of the Infrastructure Investment and Jobs Act provided a boost to coal reclamation projects and the RECLAIM Act, has garnered bipartisan support across Appalachia and could potentially provide further funding to coal reclamation projects.

Budget reconciliation legislation that includes investments for climate programs, among other outlays, is now pending in the Senate and presents lawmakers with a tremendous opportunity to mitigate the impacts of climate change, while also improving the quality of life in rural counties, as well as helping farm families and their communities.

Join CDFA for the next installment of the Federal Financing Webinar Series: Funding Community Energy Needs with the U.S. Department of Energy on August 23. Learn about available funding for renewable energy and energy efficiency research, development, and implementation along with funding networks that provide weatherization services to low-income families.

U.S. Department of Agriculture is investing $401 million to provide access to high-speed internet for 31,000 rural residents and businesses in 11 states, part of the Biden-Harris Administration's commitment to investing in rural infrastructure and affordable high-speed internet for all. This announcement includes a group of investments from the ReConnect Program, and an award funded through USDA's Telecommunications Infrastructure Loan and Loan Guarantee program.

The Sunny Awards for Equitable Community Solar (The Sunny Awards) is a $100,000 prize competition that will recognize community solar projects and programs that employ or develop best practices to increase equitable access to the meaningful benefits of community solar for subscribers and their communities.

Lynchburg's Economic Development Authority again has been selected to receive $500,000 in assessment grants from the Environmental Protection Agency to continue to assist businesses and property owners to identify, assess and begin redevelopment of brownfields.

U.S. EDA announced a $2.1 million grant to the Okmulgee Area Development Corporation, Okmulgee, Oklahoma, for road, utility and drainage infrastructure needed to complete the Okmulgee Business Complex. This project will help redevelop a brownfield site to attract manufacturing businesses and create jobs for the region.

The Federal Transit Administration has announced that it will provide $1.75B in grants to transit agencies to improve accessibility for riders. The money, which comes from the $1.2T bipartisan infrastructure law, will make it easier for people to get on board the nation's oldest public rail systems. Transit agencies can use the funding to retrofit subway stations so people who need an elevator or ramp, including those who use wheelchairs.

The U.S. Department of Agriculture (USDA) announced it is awarding more than $10 million in Farm to School Grants to 123 projects across the country. Additionally, for the first time, the department is empowering states with $60 million in non-competitive grants to develop stronger and sustainable Farm to School programs over the next four years.

President Biden announced his latest set of executive actions to turn the climate crisis into an opportunity, by creating good-paying jobs in clean energy and lowering costs for families. By creating good-paying jobs in clean energy and lowering costs for families. His actions will protect communities from climate impacts and expand offshore wind opportunities and jobs in the United States.

The American Trucking Associations are praising U.S. House leaders for advancing the Truck Parking Safety Improvement Act, which would authorize the creation of a competitive grant program for states to spend $755M over a 4-year period on new truck parking projects including capacity expansion and enhancements.

Through the State Small Business Credit Initiative (SSBCI), Pennsylvania has been awarded nearly $268M in American Rescue Plan funding. The funding will be used to spur small business growth and create job opportunities across the commonwealth.

Millions of dollars will soon be available for Vermont entrepreneurs as the state prepares to spend nearly $58 million in federal pandemic funding aimed at Vermont entrepreneurs and small business startups.

Pennsylvania lawmakers have agreed on a plan to use $2.2 billion in remaining federal stimulus money from the pandemic on housing, conservation, and child care programs. The agreement came as the state finalized a $45.2 billion budget a week after the deadline. Spotlight PA identified 20 programs that will be funded using the stimulus dollars.