Bethesda, MD – A new report from the Office of Management and Budget (OMB) is a stark reminder of the perilous situation facing the medical research and scientific communities unless Congress and the President take action to prevent the pending sequestration. Set in motion by the Budget Control Act of 2011, sequestration would impose automatic cuts on federal funding starting on January 2, 2013. According to OMB, the budget for the National Institutes of Health (NIH) would be reduced by $2.529 billion, the National Science Foundation would lose $586 million, and the Department of Energy Office of Science would be cut by $400 million. "Federal funding for research programs are not the source of our nation's debt, and cuts to these and other programs are not the solution to our fiscal problems. We urge our elected leaders to act expeditiously to avoid the catastrophic consequences of sequestration and enable federal agencies to plan for the coming year," said Federation of American Societies for Experimental Biology (FASEB) President Judith S. Bond, PhD.
"The loss of funds due to sequestration will curtail vital research projects at universities and institutions in all 50 states and result in layoffs of thousands of Americans," noted Dr. Bond. FASEB has projected NIH extramural research funding will decline by $2.6 billion if sequestration goes into effect. Eight states face funding reductions that will exceed $100 million. The complete analysis, including a table detailing the state-by-state cuts from sequestration, is available here.
FASEB is composed of 26 societies with more than 100,000 members, making it the largest coalition of biomedical research associations in the United States. Celebrating 100 Years of Advancing the Life Sciences in 2012, FASEB is rededicating its efforts to advance health and well-being by promoting progress and education in biological and biomedical sciences through service to our member societies and collaborative advocacy.