federal budget
House budgets limit TBED funding, restructure NIH
Editor's Note: This article was updated on July 1 to reflect an amendment during the full House's consideration of the FY 2025 defense appropriations bill that restored the APEX accelerators program to its FY 2024 funding level.
The U.S. House Committee on Appropriations' decision to cut non-defense spending by six percent in its initial FY 2025 spending bills is yielding predictably mixed results for programs relevant to tech-based economic development (TBED). Amidst the overall cuts, flat funding for the Economic Development Administration’s Build to Scale ($50 million) and Tech Hubs ($41 million) might be viewed as positive news. Programs bearing the brunt of budget cuts include the rest of EDA (30% reduction), the Minority Business Development Agency (20% reduction), and the Small Business Administration’s accelerators competition ($0). Meanwhile, the committee is proposing to maintain level funding for the National Institutes of Health but condensing from 27 centers into 15.
Funding for tech-based economic development in the federal FY 2024 budget
Editor’s note (April 4, 2024): This article has been updated to reflect relevant programs included in the second of two FY 2024 omnibus appropriations bills.
White House FY 2025 budget vision stays the course
The White House published its FY 2025 budget this week. As Congress will ultimately produce its preferred budget, the president’s release like those of previous Administrations serves as more of a messaging document outlining a vision and priorities. For tech-based economic development (TBED), the message is that Congress has provided ample tools but needs to continue to fund them.
Congress to fund Commerce and Science agencies in first half of FY 2024 action
More than five months into fiscal year 2024, Congress has approved an agreement covering six of the twelve annual appropriations bills. Many tech-based economic development (TBED) programs received funding equal to the FY 2023 base appropriation—a strong sign of support for a year in which Congress agreed to return to FY 2022 overall spending levels and many programs across the federal government, therefore, saw cuts.
White House proposes robust innovation funding for FY 2024 and beyond
The White House released the President’s Budget for FY 2024 today, and the administration is making a strong statement of support for science, technology, innovation and entrepreneurship.
Congress proposes omnibus with $1.8 billion for CHIPS & Science Act and additional innovation funding
Federal innovation and entrepreneurship initiatives would receive substantial new funding under the text of the omnibus spending bill shared on the morning of Dec. 20 by the Senate Committee on Appropriations. The legislation, which totals $1.7 trillion and covers both regular FY 2023 appropriations and supplement funding, provides a total of $1.8 billion for programs authorized by this year’s CHIPS and Science Act and increases funding for multiple long-standing efforts — including each of the SSTI Innovation Advocacy Council’s priority programs.
Senate Dems propose increased innovation funding for FY 2023
With the fiscal year coming to a close and the U.S. Senate having yet to advance any appropriations bills for the next year, the Senate Democrats have released their proposals for FY 2023 funding levels. Due to the potential for substantial changes when the final FY 2023 budget is passed, this article only covers specific funding levels that are a high priority for the tech-based economic development (TBED) field.
House FY 2023 budget would increase innovation investments
With the end of the current fiscal year just three months away, the House Committee on Appropriations is set to finish marking up all of its FY 2023 funding bills by the end of this week. Similar to last year. the committee’s actions come before Congress has agreed to an overall spending level. Due to the potential for substantial changes when the final FY 2023 budget is passed, this article only covers specific funding levels that are a high priority for the tech-based economic development (TBED) field.
Biden’s FY 2023 budget emphasizes productivity and competitiveness
The White House has released its proposed budget for FY 2023.
The White House has released its proposed budget for FY 2023. While funding levels will ultimately be determined by Congress (see SSTI’s previous commentary putting the proposal in context), the president’s budget identifies administration priorities that can indicate future agency actions — for example, last year’s proposal for the National Science Foundation (NSF) included the Technology, Innovation and Partnerships (TIP) Directorate, and the agency moved forward with the directorate despite receiving no formal authorization or funding level. The FY 2023 budget proposal contains many helpful priorities for regional innovation economies.
Congress reveals final 2022 budget midway through year
More than five months into the fiscal year, Congress has finally proposed a full budget for FY 2022. While the legislation has not passed both chambers as of this writing, the discretionary spending provisions are expected to remain unchanged. Few programs received as much funding as the House proposed in its appropriations bills last summer, but science and innovation initiatives generally received at least some additional funding.