President Biden's proposed budget for the 2025 fiscal year aims to bolster American innovation and competitiveness, with a particular focus on the U.S. Department of Commerce. The budget outlines $4 billion in mandatory funding and $11.4 billion in discretionary funding, earmarked to support the essential priorities of the Commerce Department.
The mandatory funds will be directed towards the U.S. Economic Development Administration's Regional Technology and Innovation Hubs Program. This allocation builds on a previous investment of $500 million provided in the 2023 Consolidated Appropriations Act, with an aim to stimulate technological development nationwide as semiconductor technology becomes increasingly important. According to a press release from the Department of Commerce, underrepresented regions will receive assistance through $41 million allocated for fostering tech growth in rural areas. Additionally, $1.6 billion of the budget is assigned to the Census Bureau—an increase of $93 million from last year—designed to enhance how they gauge the quality of life for American citizens.
The budget also emphasizes innovation in Artificial Intelligence (AI) and protection of technologies within the United States. A sum of $65 million has been allocated to safeguard against potential risks posed by AI as it continues to evolve. The National Institute of Standards and Technology (NIST) will persist in creating guidelines and testing environments for AI, backed by a $50 million investment. To counter China's ongoing attempts at illicit technology transfer, over $233 million will be allotted to the Bureau of Industry and Security for expanding export enforcement. This funding will also facilitate increased cooperation between the United States and its allies, aimed at reducing potential technology infiltration efforts by the Chinese Communist Party.
U.S Secretary of Commerce Gina Raimondo commented on this initiative: "At the Commerce Department, President Biden has set us on a mission to make America more competitive, and his budget would enable us to meet that mission by investing in our workers, our communities, and our country to create jobs, grow workforce training opportunities, and catalyze innovation." Raimondo further stated that the budget "continues to build on President Biden’s Investing in America agenda and will empower the Commerce Department to expand economic opportunity for the American people, better protect our national security, and promote renewable energy and conservation efforts for years to come."
