Infographic: HHS budget to get major haircut to the tune of $15B; VA gets $4.4B increase
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“On Thursday, the Trump administration released a preliminary 2018 budget proposal, which details many of the changes the president wants to make to the federal government’s spending. The proposal covers only discretionary, not mandatory, spending.
To pay for an increase in defense spending, a down payment on the border wall and school voucher programs, among other things, funding was cut from the discretionary budgets of other executive departments and agencies. The Environmental Protection Agency, the State Department and the Agriculture Department took the hardest hits. The proposal also eliminates funding for these 19 agencies…”
G2X TAKE: While the targeted areas of focus were largely expected, the depth of the cuts did send shockwaves across certain areas of the Federal Health sector, especially with those firms that maintain a heavier HHS and NIH focus. There are dozens of articles out there that break down each agency in more detail, but this infographic provides a quick snapshot for those trying to wrap their arms around this.
There is still a lot of work left to do before these actions are finalized and much more will be revealed about specific programs and initiatives likely to be affected. More to come in the days and weeks ahead as the new administration settles in and starts to further define their agenda.
One thing you can expect to see is a lot of industry movement as individuals and firms work to seek and invest in roles, capabilities, and areas of focus where there is opportunity for growth.
How much of this was already built into your firm’s plans? How about your personal plans? Let us know by commenting below?
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