Public investments in research and development (R&D) during the 20th century have powered many of America’s greatest advancements. However, federal funding for R&D has been declining over the past 50 years. Now, as Congress negotiates spending bills for the new fiscal year, investments in R&D are being further starved in an effort to reduce budget deficits. Although now is a time when the federal government should be unwinding the nation’s debts, cutting R&D funding is a shortsighted decision that will barely change the fiscal trajectory while hobbling America’s ability to innovate. When Congress passed the bipartisan CHIPS and Science Act one year ago, it was supposed to herald a $200
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