With the President's FY 2005 budget proposal, total federal R&D investment during the first term will be increased 44%, to a record $132 billion in 2005, compared to $91 billion in FY 2001.

President Bush's 2005 budget request commits 13.5% of total discretionary outlays to R&D - the highest level in 37 years. Not since 1968 and the Apollo program have we seen an investment in science of this magnitude.

Of this, the Bush budget commits 5.7% of total discretionary outlays to non-defense R&D. This is the third highest level in the last 25 years.

Funding for Basic Research, the fuel for future technology development, is at an all-time high of $26.8 billion in FY 2005, a 26% increase from FY 2001.

The President has completed the doubling of funding for the national Institutes of Health (NIH). Funding for NIH during the four years of this Administration is increased more than 40% since FY 2001 to $28.6 billion.

Funding for NSF during the four years of this Administration is increased 30% over FY 2001 to $5.7 billion.

Nanotechnology R&D totals $1 billion in the FY 2005 request, double the total in FY 2001.

The President's FY 2005 budget also proposes to make the Research and Development Tax Credit permanent. The R&D tax credit promotes private sector investment in research and the development of new advanced technologies.