fy23budget

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. The legislation is expected to pass Congress this week, before the current funding agreement expires on Dec. 23.

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.