While the House-passed tax reform bill would would repeal the new markets tax credit, the Senate continues to take steps in the opposite direction in unison with their efforts to preserve the credit.

The Senate Appropriations Committee Monday released the chairman’s draft on the fiscal year 2018 financial services and general government appropriations bill, including full funding for the Community Development Financial Institutions Fund, which oversees the New Markets Tax Credit Program.

The bill would also bring the Consumer Financial Protection Bureau under the congressional appropriations process.

The NMTC program, which provides a critical stream of financing for economic development projects in low-income areas, and is set to run through 2019, has been in jeopardy for most of the year.

President Donald Trump’s proposed fiscal 2018 budget, released in May, had eliminated funding for the CDFI program.

According to the New Markets Tax Credit Coalition, between 2003 and 2015, $42 billion in direct NMTC investments were made in businesses, which leveraged nearly $80 billion in total capital investment in communities with high rates of poverty and unemployment. The NMTC generated about 750,000 jobs between 2003 and 2012, at a cost to the federal government of less than $20,000 per job.

In Massachusetts, there were $1.82 billion in NMTC investments between 2003 and 2014, which leveraged another $884 million from other funding sources. That funding created more than 16,000 construction jobs, more than 15,000 full-time equivalent jobs, 350 community facilities and 84 mixed-use redevelopment projects.