After a protracted and contentious election, our nation’s political leaders now face the daunting task of addressing the fiscal cliff.
Unless lawmakers take action, the policies encompassed in the fiscal cliff will automatically go into effect this January. Included are tax increases and federal budget cuts. Federal science programs would be subject to at least an 8 percent reduction in funding next year—a $12 billion cut. Although these policies will help to reduce the deficit, they could also harm the nation’s fragile economic recovery.
Watch a short video presented by the American Institute of Biological Sciences about the fiscal cliff and how it would impact science.
Want more information about the fiscal cliff and sequestration? Read the report prepared by AIBS.