President Releases FY2016 Budget Request; Includes Significant Increase for EDA Planning Grants, Decrease in Public Works Funding

Posted on: February 6th, 2015 by NADO Admin

This week, President Obama released his fiscal year (FY) 2016 budget request.  Totaling $4 trillion, the budget request calls for a $74 billion increase in discretionary spending over sequestration levels, with $530 billion for non-defense (an increase of $37 billion over the spending caps) and $561 for defense (an increase of $38 billion over the spending caps).

The budget request calls for a $14.5 million increase in the U.S. Economic Development Administration’s (EDA) budget for Economic Development Assistance Programs (up to $227.5 million), including a $9.5 million increase for Partnership Planning Grants (to $39.5 million) over current levels.  Other highlights of the EDA budget request include:

  • $85 million for Public Works (down $14 million from current levels)
  • $53 million for Economic Adjustment Assistance (up $18 million from current levels)
  • $25 million for Regional Innovation Strategies (up $15 million from current levels)  

The President’s budget request also includes a new interagency proposal designed to help communities adapt to the changing energy sector, particularly those workers and communities that have relied on the coal industry as a source of employment and economic prosperity.  The POWER+ (Partnerships for Opportunity and Workforce and Economic Revitalization) Plan calls for $55 million in targeted economic development and workforce strategies across a number of federal agencies:

  • $20 million for the Department of Labor’s Dislocated Workers National Reserve
  • $25 million for the Appalachian Regional Commission
  • $6 million for the Economic Development Administration’s place-based regional innovation efforts
  • $5 million for the Environmental Protection Agency’s Brownfields Program
  • $12 million for the Department of Agriculture’s Rural Economic Development grants
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