President Biden Releases FY 2024 Budget Proposal

March 15, 2023

On March 9, President Biden released his FY 2024 budget proposal, which included $144.3 billion in discretionary funding and $1.7 trillion in mandatory spending.

The budget request emphasizes the importance of affordable healthcare, investments in the healthcare workforce, and public health preparedness and innovation.

  • With more than 67 million Americans depending on Medicare to receive their healthcare benefits, the budget request would extend solvency for the Medicare Hospital Trust Fund by approximately 25 years without any impact to benefits or provider payments. 
  • The budget includes an investment of $1 billion towards the Cancer Moonshot Initiative, with a targeted goal of reducing the death rate by 50% over the next 25 years.
  • The Advanced Research Projects Agency for Health (ARPA-H) is funded at $2.5 billion, with priority research in the areas of cancer, diabetes, and dementia.
  • The U.S. Health Resources and Services Administration is funded at $2.7 billion, with $947 million specifically directed toward expanding workforce capacity.

Congressional hearings on the budget are now in full swing, with the Senate Budget Committee holding a hearing on Wednesday March 15.

SNMMI continues to advocate for appropriations report language to be included in grant announcements to encourage more research and advancements in the nuclear medicine field.

To view the full budget proposal, click here.