As part of the CDFA Federal Policy Conference, we will head to Capitol Hill to conduct legislative briefings on the importance of bond legislation such as MAMBA. Join CDFA and our members and partners as we visit with Congressional leaders to reinforce the importance of federal economic development finance solutions and proactive approaches.

U.S. Sens. John Thune (R-S.D.) and Kyrsten Sinema (D-Ariz.), members of the Senate Committee on Commerce, Science, and Transportation, this week introduced the Tribal Transportation Equity and Transparency Improvement Act, legislation to increase tribal transportation funding flexibility and improve the transparency and consistency of the Tribal Transportation Program's administration and data collection practices.

Sens. Jim Inhofe (R-OK) and Tammy Duckworth (D-IL) introduced last week a measure establishing the National Center for the Advancement of Aviation, which they said focuses on aviation and aerospace workforce development.

The chairman of the House Transportation and Infrastructure Committee favors the creation of a series of Treasury bonds dedicated to transportation that would be paid for by indexing the federal gasoline tax. The last estimate was the added revenues from inflationary rises in the gas tax could allow $500 billion of bonds to be sold over 13 years.

Public transit advocates told a Senate committee that a significant increase in federal funding for new buses and rail cars along with flexibility for reaching rural populations should be included in the next transportation reauthorization bill. The U.S. Chamber of Commerce favors paying for those investments with an increase in gas and diesel taxes along with increased use of federal loan programs, private activity bonds, and public-private partnerships.

Congress resumes its legislative agenda amid recent calls from Republican leaders on the transportation committees for passage of a highway bill meant to update a law expiring in seven months. The Senate Environment and Public Works Committee's 5-year, $287 billion highway policy bill was approved unanimously last summer but stopped short of covering several matters.

Ways and Means Republicans are launching a new series to highlight how Opportunity Zones are working and benefiting communities across the country, regardless of party. Regular updates will showcase where Opportunity Zones are boosting investments.

Senators Lankford (R-OK), Tillis (R-NC), Burr (R-NC), Jones (D-AL), Cornyn (R-TX), Cruz (R-TX), and Rounds (R-SD) introduced bipartisan legislation that would expedite the start of certain hazard mitigation projects after natural disasters, while grant applicants await federal assistance through the Federal Emergency Management Agency's (FEMA) hazard mitigation grant program.

The U.S. Department of the Treasury's CDFI Fund awarded 38 organizations $130.9 million for the development of affordable housing and community facilities in low-income communities. These awards were made through the fiscal year (FY) 2019 round of the Capital Magnet Fund.

The Export-Import Bank of the United States (EXIM) Board of Directors unanimously approved an $18.4 million loan guarantee that will directly support three U.S. small businesses. The medium-term loan guarantee will assist with the export of U.S. goods and services to be utilized in the development of the Vaca Muerta Formation in Argentina, which will support 100 American jobs between Colorado, Pennsylvania, and Texas.

The U.S. Department of the Treasury's CDFI Fund opened the fiscal year (FY) 2020 funding round for the CDFI Program and Native American CDFI Assistance Program (NACA Program). The awards from these programs will support CDFIs that provide affordable financing and related services to low-income communities and populations that lack access to credit, capital, and financial services.

Officials from Washington D-C with the Small Business Administration visited with Governor Kristi Noem to discuss economic development for rural parts of South Dakota. National Director of Rural Affairs for S-B-A Michelle Christian said they're encouraged.

The guidance issued by the Internal Revenue Service is the type that the carbon capture and storage industry had sought, and will hopefully open up the market for investment by eliminating tax-related uncertainties for financial investors. Similar guidance was provided for renewable energy projects which proved valuable.

The Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) today extended the public comment period for proposed changes to the rules implementing the Community Reinvestment Act (CRA) until April 8, 2020.

The U.S. Department of Agriculture (USDA) today announced the availability of two programs that protect hemp producers' crops from natural disasters. Producers may apply now for both a pilot hemp insurance program through Multi-Peril Crop Insurance (MPCI) as well as the Noninsured Crop Disaster Assistance Program (NAP) through March 16, 2020.

Mtech Ventures, a University of Maryland technology company incubator program, won a $50,000 U.S. Small Business Administration Growth Accelerator Fund competition award to support innovation in federal Opportunity Zones in the Baltimore-Washington metropolitan area.