Department of the Treasury

Overview

The Treasury Department's FY2027 budget request is $11.5 billion, about 12% less than the $13 billion approved for FY2026. The biggest reduction hits the IRS, which would lose $1.4 billion (11%), likely affecting taxpayer customer service, tax enforcement, and the Direct File program. The CDFI Fund faces an even steeper 75% cut of $204.5 million, which could reduce support for the 1,432 certified community development financial institutions that provide credit and services to underserved and rural communities. Overall, taxpayers seeking help and financial support programs for lower-income and rural areas would feel the greatest impact.