What Will the Stimulus Bill Mean for Duke?
Passage is expected to bring more for student aid, research
After weeks of ardent bargaining and compromise, Congress has reached an agreement that will inject billions of dollars into the U.S. economy, including increased funding for student financial aid and academic research.
Both the House and the Senate are expected to approve today (Friday) the much-debated American Recovery and Reinvestment Act of 2009 with a final price tag of $789 billion. The stimulus includes more than $15 billion in new scientific research funding.(Update -- Friday afternoon. The House has passed the plan 246-183.)
"The stimulus passage will be welcome news to the Duke community. We are thrilled that Congress recognizes the important role universities play in today's global economy through the education of students and conduct of fundamental research," said Provost Peter Lange.
The bill will provide significant new aid to students through a $500 increase to the maximum Pell Grant as well as an increase in higher education tax credits to a maximum of $2,500. The College Work-Study program for students will also be injected with an additional $200 million.
The stimulus package also provides increased investment in research. Of particular interest to research institutions is the nearly $10 billion in new funding for the National Institutes of Health (NIH): $8.5 billion for biomedical research, and $1.5 billion for renovations on university research facilities. The NIH has not yet announced when the funds will begin to flow nor how exactly the process will work.
The National Science Foundation (NSF) will receive $3 billion in additional stimulus funds to support basic research in science and engineering.
NIH, NSF, and other research-related agencies are expected to announce their specific distribution plans in the coming weeks.
"We are closely monitoring the agencies and the progress they are making in creating a distribution mechanism," said James Siedow, vice provost for research. "As soon as we know the process, our faculty and researchers will be the first to know."
Individuals interested in the specifics of eligibility for funds and distribution processes should continue to check for updates on the Office of Research Support's website.
The Office of Federal Relations is also working closely with congressional offices and university departments to keep the Duke community updated on the status of the stimulus plan and its impact on campus.
"Once the bill is signed by President Obama -- which is expected to happen in a matter of days -- we anticipate that things will move very quickly," said Chris Simmons, associate vice president of federal relations at Duke. "Thankfully, the result of the weeks of negotiations in Congress is good news for Duke."
