Federal agencies such as NIH and NSF are critical sources of funding for basic and applied scientific research. Recently, many of these agencies have seen their research operations frozen or downsized. This brief describes a new analysis of the macroeconomic costs of cutting federal funding for scientific R&D. The brief finds that budget cuts to public R&D would significantly hurt the economy in the long run, with large negative effects on GDP, investment, and government revenue. A 25 percent cu...