Full House fans: who could forget the classic Uncle Joey line, “cut it out?” Side note, we can’t get over the fact that Alanis Morisette’s smash hit “You Oughta Know” is about that same guy. What a heartbreaker.
Speaking of cutting it out, our new administration is on a spending cut hot streak. However, some worry that the cuts to science and education programs could hurt the Keystone State’s economy.
Here’s Five Fast Facts on proposed cuts and the PA economy:
- 💵 Busting Billions - If the Trump administration follows through on their proposed cuts, it’s a whopper. They’re talking about cutting funding to the National Science Foundation (NSF) from $9B down to $3B (a 66% decrease). There’s also talks of slashing $4B from the National Institutes of Health (NIH) budget.
- 🧑🎓 Your Mom Goes to College - In PA, researchers received $1.8B in NIH funding last year alone. Around $915M of that went to Association of Independent Colleges and Universities of Pennsylvania (AICUP) institutions. Another $332M came in through NSF grants and $186M of that went to AICUP schools.
- 🤑 Funding Facts - Aside from allowing scientists to nerd out in the lab, why is this funding important? Both NIH and NSF funding brings thousands of out-of-state students to PA and boosts the economy. In 2024, NIH funding alone generated $5.2B in economic activity and supported 21,000 jobs.
- ✂️ The Cutting Floor - These cuts are part of the Trump administration’s goal of curbing government spending. Cutting the fat and reducing unnecessary spending sprees can be a good thing, but not everyone’s a fan of this one. Critics of federal cuts to the NIH and NSF worry they could weaken America’s position as an education and research leader.
- 🛑 Pumping the Brakes - To stop the cut train, AICUP launched an appeal to the PA Congress. They’re aiming for bipartisan support and want the people to know that funding for these programs is essential to the state’s economy. AICUP currently represents 85 member institutions.
🔥Bottom line: Cutting funding for random stuff that wastes American taxpayer dollars? We’re all for it. Slashing funding for key programs that boost the economy? Ehh, not so much. Need to brush up on your tariff facts? Learn all about the Trump tariff train in this article.
Do you think government spending is out of control?
Let us know by connecting with us on Facebook and Instagram! Also, remember to share this newsletter with your friends & coworkers!
Btw, If you’ve read this far and haven’t yet signed up for the weekly Paycheckology newsletter, CLICK HERE!