FY 2024 Budget Outline Released — What Does it Mean for CHIPS and Science?

On Thursday, March 9, the White House released the President’s budget outline for 2024, also known as the “skinny budget”. The outline contains general top line information about science and technology budgets including funding authorized by the CHIPS and Science Act. CHIPS and Science programs are set to receive $6.5 billion above FY 2023, a 26 percent increase under the President’s Plan but well short of the targets set in the CHIPS and Science legislation.

CHIPS and Science funding highlights include: $11.3 billion for NSF, $8.8 billion for DOE’s Office of Science, $1 billion for NIST, part of the Department of Commerce, and $4 billion for the Economic Development Administration (EDA), also part of Commerce.

The total for NSF includes $1.2 billion for activities under the new Technology, Innovation and Partnerships Directorate, including $300 million for new NSF Engines Regional Innovation Centers — a 43 percent increase.

More details are expected to be released on Monday, March 12 with the full version of the President’s FY 2024 Budget Plan.