Effective January 2, 2013, the sequestration budget cuts found in the Budget Control Act of 2012 will reduce federally funded research and development by at least $12.5 billion per year. If action is not taken by policymakers, the cuts will limit the innovation capabilities of major science agencies like the National Science Foundation, National Institutes of Health, and NASA.
“The Information Technology and Innovation Foundation (ITIF) projects that a decline in R & D investment of this magnitude will reduce GDP by at least $203 billion in the short term and up to $860 billion over the complete timeline of the sequester. Just the short-term loss is the economic equivalent to eliminating all sales of new motor vehicles for a half year.”
Budget cuts will directly affect MIT. To elaborate on the Institute’s sequestration preparation, the Alumni Association will host a webinar, “The Fiscal Cliff—How it Affects MIT,” on Friday, Dec. 7, at 3:00 p.m. (EDT). Register for this free event to learn how MIT it preparing for reductions in federal research funding and what effect the potential cuts will have on science innovation.
Moderated by LAN member John Gavenonis ’98, the discussion will feature Vice President for Research and Associate Provost Claude Canizares; MIT’s Washington, D.C. Office Director William Bonvillian; and MIT Senior Policy Advisor Amanda Arnold.
A video produced by Stand With Science, "What's Next?," illustrates the cuts' impact on research funding. The group—which includes Nathaniel Twarog ’97, PhD ’12 and graduate students Samuel Brighton and Mike Henninger—created an online petition that asks Congress for a bipartisan solution that maintains adequate funding for science research and training.
The LAN is encouraging alumni to contact their representative and senators (using the attached template) and ask them to take immediate action to avoid the sequester.
For more information on the webinar and Legislative Advocacy Network, visit the LAN online toolkit or contact alumadvocacy@mit.edu.
