Bethesda, MD – The Federation of American Societies for Experimental Biology (FASEB) submitted testimony to the U.S. Senate Committee on Appropriations hearing on Driving Innovation through Federal Investment chaired by Senators Barbara A. Mikulski and Richard C. Shelby. “Throughout U.S. history, federal funding has been a crucial driver of innovation. Our economy has been transformed and our quality of life enhanced by the innovative products and technologies that have emerged from federally funded research,” stated FASEB.
We are on the threshold of spectacular breakthroughs that will dramatically improve human health and quality of life. Unfortunately, due to shrinking research budgets, we are unable to keep pace with the profound opportunities before us. The inability of the National Institutes of Health budget to keep pace with the rising costs of research has led to a decrease in the number of RO1 awards, which have plummeted from 7,430 in 2003 to 4,902 in 2013, a loss of 34 percent. While the U.S. is reducing funding for research and development, other nations are increasing their investment.
Click here to view FASEB’s testimony.