Bessent Vow for Low-Income Loans Collides With Cost Cuts (1)

President Donald Trump’s aggressive government cost-cutting agenda is forcing his Treasury chief to balance support for that mission with efforts to protect a crucial financial lifeline for millions of low-income Americans.

Treasury Secretary Scott Bessent is trying to preserve the Community Development Financial Institutions Fund, while also adhering to an order from Trump that his department reduce the initiative to the maximum extent allowed by law, according to people familiar with the matter who aren’t authorized to speak to the media.

At stake is more than $300 billion of mortgages and loans for small businesses and commercial real ...