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Blog Category: Budget

Deputy Secretary of Commerce Blank Announces Fiscal Year 2014 Budget Request

Budget request cover

U.S. Deputy Secretary of Commerce Rebecca Blank today released the Department of Commerce’s fiscal year 2014 budget request, which supports President Obama’s plan for an economy built to last with crucial investments in advanced manufacturing, innovation, trade promotion and enforcement, and research and development. These investments are designed to help grow the economy, create jobs and strengthen the middle class. The $8.6 billion budget request is an increase of $1 billion over the fiscal year 2012 level. The Department also identified a total of $195 million in administrative savings.

“The Department of Commerce has a vital mission to help American businesses thrive so they can create jobs here at home and maintain a competitive edge abroad,” said U.S. Deputy Secretary of Commerce Rebecca Blank. “The Department’s fiscal year 2014 budget reflects our commitment to our core priorities, including revitalizing American manufacturing, spurring innovation by investing in world-class research, science and technology, and driving export growth. Overall, this budget proposes targeted investments that will enable us to carry out our responsibility to help grow American businesses and the economy, while also spending federal dollars wisely.”

Read the key investments in the FY 2014 Department of Commerce budget.

Commerce Department’s Proposed 2012 Budget

The Commerce Department’s proposed 2012 budget makes tough choices and reduces spending by $242 million, while making important investments that will help America out-build and out-innovate our economic competitors.With a proposed five-year, non-security discretionary spending freeze that will save $400 billion, President Obama’s budget reduces non-security, discretionary spending to its lowest percentage of the economy since President Dwight Eisenhower was in office.

Among the highlighted cuts and reductions:

  • $15.8 million from eliminating the Economic Development Administration’s (EDA) Trade Adjustment Assistance for Firms program;
  • $37.3 million from eliminating EDA’s 21st Century Innovation Infrastructure program;
  • $20 million by restructuring the International Trade Administration to focus on high-priority markets and industries. This means eliminating a number of foreign posts, among other cost savings;
  • $43 million by eliminating the Emergency Steel Guaranteed Loan Program;
  • More than $2 million by reducing the reliance of the Baldrige Performance Excellence Program on federal funding and shifting it to a private sector footing, and;
  • $20 million by eliminating the Public Telecommunications Facilities, Planning and Construction Program.

In addition to the program cuts mentioned above, the budget includes savings that result from reforming the way Commerce works – doing more, while spending less. That meant changing how the department handles acquisitions and logistics, such as shipping, to find places where it can leverage buying power; tightening the filling of vacancies to the highest priority positions and better using information technologies. All told, the proposed 2012 budget finds more than $140 million in administrative savings.

Administration's Budget Proposal Seeks Investments in Innovation, Clean Energy, Infrastructure and Job Creation

U.S. flag over entrance of Department of Commerce.

President Barack Obama today submitted to Congress an $8.9 billion FY 2011 budget request for the U.S. Commerce Department. The budget reflects priorities that will spur the growth of U.S. exports and the jobs that come with them, improve our scientific and technological capabilities and upgrade our capabilities for weather and climate observations and forecasting. (Press release)

Dennis F. Hightower Confirmed as Deputy Secretary of Commerce

Image of flag flying from facade of U.S. Department of Commerce's Herbert Clark Hoover Building

The U.S. Senate confirmed Dennis F. Hightower as Deputy Secretary of Commerce by unanimous consent. Hightower, a seasoned business executive with a 40-year career in the public and private sectors, takes over general management of the Department of Commerce, an organization with nearly 38,000 employees and an operating budget of over $17 billion. “I am grateful to the Senate for moving quickly to confirm Dennis Hightower, and I’m thrilled to have him on board.” Commerce Secretary Gary Locke said. “His management expertise and strong leadership skills will be a valuable asset to the Commerce team as we work to make American businesses more competitive and strengthen the economy. (More)