Treasury Department

U.S. Treasury to Wind Down Capital Projects Fund

Internal communication says new CPF plans must be submitted by May 21, 2026.

Lincoln Patience

May 12, 2026 — 1 min read

Photo of the U.S. Treasury building, taken by Patrick Semansky/AP

WASHINGTON, May 12, 2026 — The $10 billion Capital Projects Fund is set to expire at the end of this year, but the awards process may wind down sooner than that, according to a source close to the U.S. Department of the Treasury.

“Treasury staff is beginning preparations to wind down CPF,” the department said in a written communication reviewed by Broadband Breakfast. New CPF program plans must be submitted by May 21, 2026.

“Treasury will not consider new Program Plans submitted after the deadline,” the message said. Treasury said it would not approve amendments to previously funding allocations after July, 2026.

In particular, Digital Connectivity Technology Projects under code 1B and Multi-Purpose Community Facility Projects under code 1C will not be eligible for extensions, the message said.

Questions can be sent to capitalprojectsfund@treasury.gov.

In response to the pandemic, Congress gave Treasury $10 billion for “broadband, digital technology, and multi-purpose community facility projects” under the American Rescue Plan Act (ARPA) in 2021. Treasury started making awards in June 2022.

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Treasury Department Briefs American Rescue Plan Act Capital Projects Fund