President Joe Biden talks about his proposed FY2024 federal budget during an event at the Finishing Trades Institute on March 9 in Philadelphia, Pennsylvania. If Congress approves the budget, some federal agencies and laws such as the CHIPS and Science Act could get an increase.
Chip Somodevilla via Getty Images
This audio is auto-generated. Please let us know if you have feedback.
President Joe Biden released his administration's proposed budget for fiscal year 2024 on March 9, which includes funding increases for initiatives to boost domestic manufacturing and clean energy.
The budget includes a $6.5 billion increase in the CHIPS and Science Act, a law focused on strengthening domestic manufacturing, rebuilding supply chains and funding research, development, science and technology.
Additionally, the president is requesting funds to phase out per- and polyfluoroalkyl substances (PFAS) pollution and greenhouse gases, the latter of which would help support Biden’s goal of reducing greenhouse gas pollution by 50% in 2030.
“In addition to building on the critical investments in the Internet for All and climate resiliency programs, included in the Bipartisan Infrastructure Law and Inflation Reduction Act, these investments will bolster manufacturing and supply chains, create more good-paying jobs, and revitalize communities across the country,” said Commerce Department Secretary Gina Raimondo in a statement.
Congress must approve federal agencies' submitted budget requests before they can receive the allocated funds. Here are the proposed funds that may affect manufacturing when the new fiscal year begins in October.
Department of Commerce
sefa ozel via Getty Images
By the numbers
$25 billion
The amount requested for the CHIPS and Science Act’s authorized endeavors. The funds would be split amongst the National Science Foundation, the Department of Energy, and the Department of Commerce to implement and translate scientific research into innovations, industries and jobs.
$375 million
The amount requested for the National Institute of Standards and Technology’s (NIST) Industrial Technology Services.
$98 million
The amount requested for Manufacturing USA, which supports the progress of NIST’s existing manufacturing institute, and will fund a new institute that will launch this year.
$277 million
The amount requested for the Manufacturing Extension Partnership, a public-private partnership that offers services to small and medium businesses.
Department of Labor
By the numbers
$200 million
The amount requested for a new Sectoral Employment through Career Training for Occupational Readiness (SECTOR) program, which would support the development and expansion of public-private partnerships to equitably deliver training focused on growing industries. It would also provide a pathway to jobs through legislation that boosts semiconductor manufacturing.
$292.9 million
The amount requested to restore The Trade Adjustment Assistance (TAA) program, which had provided job training assistance, employment and case management services, and income support to manufacturing workers affected by foreign trade.
$32.43 million
The amount requested for the Women’s Bureau to hire diverse staff who would focus on decreasing occupational segregation of women and women of color. It would also focus on getting them access to retention in well-paid jobs in the construction, manufacturing, clean energy, transportation and technology industries.
Food and Drug Administration
GCShutter via Getty Images
By the numbers
$1.7 billion
The amount requested to increase the agency’s inspection capabilities, including oversight of human and animal food facilities, and improve its response to critical foods shortages such as infant formula.
$4.6 billion
The amount requested to strengthen the performance, safety and effectiveness of medical products and support resilience in the medical supply chain for devices.
$780 million
The amount requested for the Center for Tobacco Products would provide the FDA with resources to continue product review and evaluation, research, compliance and enforcement, public education campaigns, and policy development.
Environmental Protection Agency
By the numbers
$170 million
The amount requested to tackle PFAS pollution, also knows as “forever chemicals.” The fund would continue the EPA’s implementation of its PFAS Strategic Roadmap, including restricting the use of PFAS from entering the air, land and water.
$64.4 million
The amount requested to implement the American Innovation and Manufacturing Act of 2020, a law that focuses on phasing out potent greenhouse gases known as hydrofluorocarbons. The funds would also be utilized in calculating greenhouse gas emissions and climate risk, set science-based goals and investing in fixing the climate change impacts and decarbonization efforts within federal economic projects.
Department of Energy
By the numbers
$75 million
The amount requested for the Office of Manufacturing and Energy Supply Chains to support the Defense Production Act that authorizes domestic energy sector manufacturing and investments toward infrastructure production that would establish commercial-scale production capabilities.
$75 million
The amount requested to support a clean energy manufacturing initiative within the Office of Manufacturing and Energy Supply Chains would strengthen the energy sector’s components of critical to national and energy security. It would also create economic opportunities for the U.S. to support the global clean technology market.
$13 million
The amount requested for Advanced Technology Vehicles Manufacturing Loan Program administrative fees to oversee the program’s portfolio. It will not request new loan authorizations but will use the remaining funds for loan costs by the end of fiscal year 2028, which includes $15 billion in loans in FY 2023 and $16 billion in FY 2024.
