Socially and environmentally conscious investors have directed and leveraged over $45 billion towards impact investing. To support the continued growth of this field, this paper, authored by the National Advisory Board on Impact Investing, a taskforce charged to explore how impact investing can support economic development and address pressing social challenges, recommends federal policies to promote greater investment in affordable housing and expanding minority- and women-owned businesses. This paper also encourages the federal government to support the expansion of impact investing and to help develop measurement standards to build accountability for the field.