Congress passes FY24 bills
In March, Congress passed all twelve spending bills for FY24, which began October 1. Lawmakers passed the spending legislation in two parts, with six appropriations bills in each package. Many research and student aid programs received flat funding or decreases compared to the previous fiscal year. See the Office of Federal Affairs’ FY24 Appropriations Tracker for an outline of the funding levels for key agencies and programs. The work for FY25 has now begun.
President Biden unveils FY25 budget request
On March 11, President Biden unveiled his FY25 budget proposal, called the President’s Budget Request (PBR). Each federal agency posts detailed FY25 budget justifications on its website. For example, see: National Institutes of Health FY25 Budget, National Science Foundation FY25 Budget. Congressional appropriators are likely to regard President Biden’s proposal as a recommendation, rendering it essentially dead on arrival in the U.S. House. The release of the President’s FY25 budget proposal officially initiates the annual appropriations process.