The effects of sequestration
Looming federal budget cuts may affect VCUMuch has been said in the national news about sequestration, a series of cuts to the federal budget that total $1.2 trillion and are scheduled to take effect March 1. These cuts are split between defense and domestic discretionary spending and include dramatic reductions in the budgets of many federal agencies that fund research at VCU.
Under sequestration, we estimate that VCU’s total federal grant portfolio could see budget reductions of $12-$21 million by the end of September 2013. That includes National Institutes of Health funding to VCU, which could drop by about $11 million this year. The NIH is a principal source of research funding to Massey Cancer Center and our prestigious Clinical and Translational Science Award.
Some forms of student aid, including federal work-study, could lose up to $50 million in funding nationally. However, the Pell Grant and tuition benefits for active duty service members and veterans would likely not be affected by sequestration.
Categories Uncategorized