Welcome! Login | Register
 

Federal Reserve Keeps Interest Rates Near Zero—Federal Reserve Keeps Interest Rates Near Zero

Moore: Forget GE, RI Can’t Even Retain Teespring—Moore: Forget GE, RI Can't Even Retain Teespring

Newport Folk Festival 2015: Sunday Highlights—The final day of the Newport Folk Festival…

College Admissions: Insider Secrets for Pre-Med Applicants—Everything you need to know about med school…

Newport Folk Festival 2015: Saturday Highlights—Saturday was another historic day at the Newport…

Newport Folk: Top Friday Acts—The Newport Folk Festival got off to a…

5 Live Music Musts - July 24, 2015—There‚Äôs something for everyone this weekend on 5…

RI State Police Arrest 8 for Sex Trafficking, Solicitation of a Minor—Eight individuals have been arrested for crimes allegedly…

10 Great Things To Do In Rhode Island This Weekend - July 24—Kick off your weekend with a bang when…

10 Great Things To Do In Newport This Weekend - July 24—Kick off your weekend with a bang when…

 
 

Fiscal Cliff would be Devastating to Brown University

Saturday, December 15, 2012

 

If Congress fails to reach an agreement to avert going over so the so-called fiscal cliff, research funding at some of the national top institutions – including Brown University— could be in danger, according to Clyde Briant, Vice President of Research at Brown.

In a question and answer segment posted online, Briant said not reaching and a compromise would force sever cuts upon agencies like the National Science Foundation and the National Institutes of Health, which is many institutions receive their funding.

"The American Association for the Advancement of Science estimates that federal research and development spending nationwide could be cut by at least $50 billion over five years," Briant said. "If the level of support drops as dramatically as is called for under sequestration, it would profoundly change the way in which universities have to approach their research endeavors."

Under the Budget Control Act of 2011, Washington lawmakers are expected to craft legislation that would trim the nation’s deficit by $1.2 trillion over a decade. But if a deal cannot be reached by the end of the year, an automatic round of cuts will be triggered, which would include many research-based agencies. In addition, the majority of American households could see a tax increase thanks to the expiration of the Bush-era tax cuts as well as the 2 percent temporary cuts to payroll taxes for businesses.

Briant said the cuts could have substantial economic effect on Rhode Island.

"I do worry about the long-term impacts on economic development if the cuts are as severe and sustained as is possible,” he said. “At a very basic level, research funding has an economic impact through salaries and support for faculty, staff, graduate students, and postdocs, who spend their money in the community. Cuts there certainly have the potential for local economic impact. But beyond that, universities are great producers of ideas. Those ideas are the economic generators of tomorrow."
 

 

Enjoy this post? Share it with others.

 
 
:)