President’s Budget to be Released March 4; Includes Focus on Manufacturing

Posted on: February 28th, 2014 by NADO Admin

The President’s Fiscal Year (FY) 2015 budget will be released on March 4.  It is expected that President Obama will seek a small increase in overall spending as called for by the Bipartisan Budget Act of 2013, which sets discretionary spending levels for FY2015 at $1.014 trillion.  This spending level is $2 billion above the FY2014 enacted level.

The President’s FY2015 budget is expected to focus heavily on manufacturing.  Included in the budget request will be a $56 billion “Opportunity, Growth, and Security Initiative” aimed at funding research, manufacturing, and education with funding divided equally between defense and domestic programs.  This initiative will include the creation of 45 new manufacturing institutes, modernization of the electric grid, and investment in pre-kindergarten programs.

NADO legislative staff will prepare our annual comprehensive budget report upon the budget’s release.  A webinar will follow once the House and Senate release their respective budgets in order to provide the best analysis and comparison of all three approaches.

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