The global race for advanced industries is fierce, and policy support for thriving R&D ecosystems is a key driver. The CHIPS and Science Act is potentially transformative, but it also requires funding. Beyond CHIPS, we need further policy innovation to enhance the quantity and quality of federal R&D investment. See below for our experts’ takes on funding for federal R&D, science, innovation, and more.
By Rep. Ro Khanna (D-CALIF.), Jonathan Gruber & Matt Hourihan
by Matt Hourihan
By Matt Hourihan, Nazish Jeffery & Faith Savaiano
Despite growing international competition, appropriations for research agencies have fallen quite short of the CHIPS and Science targets.
The CHIPS and Science Act establishes a compelling vision for U.S. innovation and place-based industrial policy, but that vision is already being hampered by tight funding.
A nondefense-only cap approach may mean estimated cuts of 28% in FY 2024, and near 40% over the next decade, for science agencies like the National Institutes of Health, the National Science Foundation, and NASA.