Among the domestic spending cuts proposed in President Trump’s $4.7 trillion budget are reductions in research and development, including a 12 percent reduction in the National Science Foundation budget, which one tech think tank said could have long-term negative effects on the U.S. economy and innovation.
“Public R&D is crucial both for the United States’ domestic economy and its position in the global economy,” said Information Technology and Innovation Foundation (ITIF) President Rob Atkinson. “Cuts to federal support for R&D result in stagnant productivity growth, lagging competitiveness, and reduced innovation.”
Atkinson warned that since “other nations—particularly adversaries like China—are increasing their investments in R&D at a robust pace…to continue budget cuts to federal support for R&D invites economic and strategic decline.”
