The President released his FY12 Budget Request to Congress this morning. We’ll take close-up looks at several of the key science agency budget requests as the day goes on, but here’s a first look at the overall picture. From the Analytical Perspectives on the Budget:

The Administration recognizes the Government’s role in fostering scientific and technological breakthroughs, and has committed resources to ensure America leads the world in the innovations of the future. The Budget proposes $66 billion for basic and applied research because it is a reliable source of new knowledge to drive job creation and economic growth.

The President’s 2012 Budget maintains his commitment to double Federal investment in key basic research agencies: the National Science Foundation (NSF); the Department of Energy (DOE) Office of Science; and the laboratories of the Department of Commerce (DOC) National Institute of Standards and Technology (NIST). The Budget proposes $14 billion in 2012 for these three agencies, an increase of $1.5 billion over 2010 funding. Priorities for 2012 include clean energy and advanced manufacturing research in areas such as information technology, nanotechnology, and biotechnology at NSF, basic energy sciences at DOE, and cybersecurity, biomanufacturing, and innovative energy technologies at NIST.

The Federal R&D effort needs complementary R&D investments from business to provide a much wider range of technology options than the Government alone could provide and to translate scientific discoveries into commercially successful, innovative products and services. In order to provide businesses with greater confidence to invest, innovate, and grow, the Budget proposes to simplify and expand the Research and Experimentation tax credit, and make it permanent.

Some quick agency-specific numbers:

NSF would see a 16 percent increase in R&D vs. FY10 (the FY11 year isn’t available for comparison yet because Congress hasn’t finished it).

Energy research would see an increase of 20 percent vs. FY10

NASA R&D overall would increase 6 percent, and NASA basic research would grow 220 percent from $835 million to $2.7 billion…but only because construction on the International Space Station is complete, so any resources to operate this new “national lab” are considered “basic research”

Defense basic research would see an increase of 14 percent, applied would decrease 4 percent.

NIH research would increase 3 percent.

Of course, this budget is essentially “dead on arrival” as far as the House is concerned. But it’s still important to have a good request from the President and the agencies on record when we go advocating for the science agencies during the FY12 appropriations process.

We’ll have lots more as we go through a day of briefings…

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