New data indicate that federal budget authority for research and development and R&D plant together in FY 2012 totaled $143.7 billion (current dollars). The corresponding figure for FY 2013 was an estimated $133.5 billion, a decline of 7.1% over the FY 2012 level, chiefly because of the across-the-board spending cuts (sequestration) mandated by the Budget Control Act of 2011. For FY 2014, the budget authority proposed by the President would rise to $144.4 billion-restoring a majority of the reductions since FY 2010
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