Budget deal may restore federal grants
Nearly a year after impasse in Washington led to significant decreases in federal grants for Yale, a budget deal is set to restore at least some future funding.
On Tuesday, Rep. Paul Ryan and Sen. Patty Murray, the chairs of the House and Senate Budget Committees, announced a bipartisan deal to set spending levels for the 2014 and 2015 fiscal years. In all, the $85 billion deal would replace about half of the mandatory budget cuts, known as sequestration, for 2014 and a fifth for 2015, indicating that most cuts enacted by the sequester will still be carried out.
The deal, which the House of Representatives is set to vote on Thursday evening, is widely expected to pass both houses of Congress and be signed into law by President Obama, who has endorsed the compromise.
University President Peter Salovey said the largest impact of the deal for Yale would be the restoration of funding for the National Institutes of Health and other sources – largely federal agencies – of federal grants. However, the specifics of how much funding to such sources will be restored are yet to be ironed out in Congress.
“The news of the deal is certainly good for Yale, but it remains to be seen how good,” Salovey said.
Yale received $535 million in grants from the federal government in 2013, a four percent decrease from the previous year’s total of $562 million. $457 of the 2012 funds came from the National Institutes of Health.
According to the National Institutes of Health, sequestration, which went into effect on Jan. 1 of this year, decreased the federal agency’s budget by 5 percent, or $1.55 billion, of its fiscal year 2013 budget.