In the context of several controversial police-involved deaths over the past several years, discussion has mounted about the reallocation of funds from policing to other crime prevention services. Given the racialized nature of public opinion, we drew upon conflict theory and theories of racial animus/resentment to explore the relationship between racial identity, racial resentment, and support for reallocation, as well as concerns if funding were reallocated. Relying on survey data from a national sample of US adults in the summer immediately following George Floyd’s murder, we found that Black respondents were less supportive of reallocating funds than White respondents and expressed concerns about increases in crime and increases in riots if funds were reallocated. These sentiments seemed to be tied to fear of crime. Also, respondents reporting more racial animus were less supportive of reallocating funds, as well as expressed concerns with access to services and increased crime and riots. The findings suggested that attitudes around police funding are racialized, as well as provided support for the overpolicing-underpolicing paradox. A policy of reallocation of funds would need to address concerns around public safety.