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President releases FY24 budget proposal

On March 9, the Biden administration released the President’s Budget Request (PBR) for FY24. The release of the FY24 PBR starts the annual appropriations process on Capitol Hill, and in the coming months Congress will ultimately decide the final FY24 funding levels for federal agencies. Congress is holding budget hearings with Biden administration officials to discuss funding levels in greater detail, and lawmakers are sending letters to their colleagues on the appropriations committee to advocate for specific funding levels.

Senators Thom Tillis (R-NC) and Bob Casey (D-PA) wrote a letter in support of a robust National Institutes of Health budget for FY24. The Office of Federal Affairs will continue to engage and promote our funding priorities directly with congressional leadership and the North Carolina delegation. Please contact the office if you have questions or would like additional information regarding a specific federal agency or program.

FY24 budget highlights:

Research and development:

  • National Institutes of Health – $48.265 billion, an increase of $811 million (1.7%) above FY23.
    • Advanced Research Projects Agency for Health – $2.5 billion, an increase of $1 billion above FY23.
    • The budget also proposes to allocate $2.690 billion to NIH from $20 billion in proposed new mandatory funding in FY24 to support pandemic preparedness HHS-wide, and “to increase mandatory funding for the 21st Century Cures Act Beau Biden Cancer Moonshot initiative at NCI through 2026.”
  • National Science Foundation – $11.3 billion, an increase of $1.8 billion (18.6%) above FY23 to support the CHIPS and Science Act.
    • Additionally, the budget proposes $1.2 billion for the CHIPS and Science Act authorized Directorate for Technology, Innovation, and Partnerships to help accelerate and translate scientific research into innovations, industries, and jobs.
  • Department of Energy Office of Science – $8.8 billion, an increase of $700 million (8.6%) above FY23.
  • Department of Defense Basic Research – $2.48 billion, a decrease of $384.2 million (-13.4%) compared to FY23.
  • NASA Science Mission Directorate – $8.26 billion, an increase of $465 million (6%) above FY23.
  • NASA Space Technology Directorate – $1.391, an increase of $191 million (16%) above FY23.
  • National Endowment for the Humanities – $211 million, an increase of $4 million (1.9%) above FY23.

Department of Education:

  • Pell Grants – Proposal to fund the maximum Pell Grant at $8,215 for the 2024-2025 academic year. This is an increase of $820 (11%) above FY23.
  • Federal Work Study – $1.23 billion, the same level as FY23.
  • Institute of Education Sciences – $870.9 million, an increase of $63.3 million (7.8%) above FY23.
  • Supplemental Education Opportunity Grant – $910 million, the same level as FY23.
  • International Education and Foreign Language Studies (Title VI) – $85.7 million, the same level as FY23.

Office of Science and Technology Policy releases goals for bioeconomy

On March 22, the White House Office of Science and Technology Policy (OSTP) released a report titled “Bold Goals for U.S. Biotechnology and Biomanufacturing: Harnessing Research and Development to Further Societal Goals” in response to President Bidenʼs Executive Order signed in September 2022. The report includes sections from the Department of Energy, Department of Agriculture, Department of Commerce, Department of Health and Human Services, and the National Science Foundation. In a fact sheet announcing the report, the White House noted that “OSTP will now lead the development of an implementation plan to address the R&D needs outlined in this report.”

The announcement also stated that the Department of Defense has released its Biomanufacturing Strategy to guide the $1.2 billion of investments announced in September for bioindustrial manufacturing infrastructure.

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