PRESIDENT'S FY 24 BUDGET REQUEST
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Biden’s $6.8 Trillion Budget Proposes New Social Programs and Higher Taxes
President Biden on Thursday proposed a $6.8 trillion budget that sought to increase spending on the military and a wide range of new social programs while also reducing future budget deficits, defying Republican calls to scale back government and reasserting his economic vision before an expected re-election campaign. The budget contains some $5 trillion in proposed tax increases on high earners and corporations over a decade, much of which would offset new spending programs aimed at the middle class and the poor. It seeks to reduce budget deficits by nearly $3 trillion over that time, compared with the country’s current path. It reaffirms Mr. Biden’s case that he can prevent the growing debt burden from weighing on the economy while expanding spending and protecting popular safety-net programs—almost entirely by asking companies and the wealthy to pay more in taxes. The plan drew swift criticism from Republicans, who are locked in an economically perilous debate with Mr. Biden over the borrowing limit, which House conservatives refuse to raise unless he agrees to sharp spending cuts. ( The New York Times - Mar. 9, 2023)
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- Five Takeaways from Biden’s $6.8 Trillion Budget - The Hill - Mar. 9, 2023
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Biden Backs Science in His 2024 Budget Plan. But Don’t Bank on Those Numbers
The 2024 spending plan President Joe Biden unveiled today continues his administration’s pattern of asking for large increases at major U.S. research agencies. But as with all presidential budgets, Biden’s $6.8 trillion request is simply the starting point for negotiations with Congress over everything from taxes to countering China’s growing economic and military might. And with Republicans vowing to reduce federal spending and the bipartisan support for bigger defense budgets, the prospects for any significant increases for science and other domestic programs remain uncertain at best. Despite that uncertainty, science advocacy groups welcomed the initial vote of confidence from the White House. At the same time, a leading Republican voice in Congress on science took issue with the president’s choices. On Monday the White House will flesh out its request to invest a record $210 billion in R&D at an event featuring Prabhakar and several agency heads. Here are some initial highlights based on preliminary figures released today. ( Science Magazine - Mar. 9, 2023)
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Biden’s Budget Calls for $820 Pell Increase
President Biden is seeking a third increase to the annual Pell Grant, of $820, as part of his budget request to Congress, which was unveiled Thursday. Department officials said the budget proposal, which is for fiscal year 2024 beginning Oct. 1, would help build a higher education system that grows the middle class, drives the economy forward and prepares students for highly skilled jobs. The budget proposal is the opening salvo in what will likely be a fierce budget battle with House Republicans, who have said they want to return spending to pre-pandemic levels. House Republican leaders, including Speaker Kevin McCarthy, criticized the proposal as “reckless” and “unserious.” Increasing the Pell Grant by is a key part of the administration’s plan to make college more affordable. The grant has increased by $900 in the last three years. The proposed increase would bring the maximum total award to $8,215. Officials say they are committing to doubling the maximum award by 2029. ( Inside Higher Ed - Mar. 10, 2023)
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White House Budget Seeks to Bolster US Tech Development, Modernize Standards
President Joe Biden’s proposed fiscal year 2024 federal budget seeks to strengthen U.S. leadership in the production and development of emerging technologies, while also increasing spending to combat cyber threats and modernize digital services across government. The proposal says that the budget request aligns with the national defense strategy, released in October 2022, by seeking funding for activities focused on “building resilience in the cyber and space domains and investing in new applications of artificial intelligence, quantum science and biotechnology with the potential to revolutionize how U.S. forces operate.” This includes $11.3 billion for the National Science Foundation—an 18.6% increase in this year’s enacted funding level—"to support the CHIPS and Science Act,” including $1.2 billion for the agency’s Directorate for Technology, Innovation and Partnerships “to help accelerate and translate scientific research into innovations, industries and jobs.” The request also proposes $300 million for NSF’s Regional Innovation Engines program “to galvanize use-inspired research, technology translation and workforce development.” ( Nextgov - Mar. 9, 2023)
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White House Proposes $27.2 Billion for NASA in 2024
The White House is proposing a $27.2 billion budget for NASA in fiscal year 2024 that would include increased funding for Artemis and starting work on a tug to deorbit the International Space Station. The Biden administration’s budget framework, released March 9, proposed increasing NASA’s budget by 7% from the nearly $25.4 billion the agency received in fiscal year 2023, roughly keeping pace with inflation. The document provided only high-level details about the budget, with NASA’s full budget proposal to be released March 13. The White House is requesting $2.5 billion for Earth science in the budget, similar to what NASA projected spending in 2024 in its fiscal year 2023 request. The document provided few other details about the proposal, other than $1.39 billion for space technology and support for aeronautics and STEM education. ( SpaceNews - Mar. 9, 2023)
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Contrasting Views on Ending Tuition-sharing Agreements
If officials at the U.S. Department of Education hoped the “listening sessions” they arranged this week would provide consensus on whether to stop letting colleges pay outside companies a share of tuition revenue when they help recruit students, they were surely disappointed. Like just about every policy discussion in Washington these days, this one found the students, consumer advocates, college officials, corporate leaders and others who shared their opinions in three-minute increments to be sharply divided, with little to no middle ground to be found. Virtually all of them—whether they argued for or against current policy guidance, which permits revenue-sharing agreements if the provider “bundles” nonrecruitment services with the recruitment work it does—purported to be speaking on behalf of students. Their major arguments, and an effort to make sense of what’s at stake, follow. ( Inside Higher Ed - Mar. 10, 2023)
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