Testimony Concerning A Review of the President’s Fiscal Year 2024 Funding Request for the Department of Commerce

The Commerce Department is hard at work. Thanks to major investments like the Infrastructure Investment and Jobs Act (IIJA) and the CHIPS and Science Act, and your support through the appropriations process, the Commerce Department is making substantial progress on some of our nation’s most pressing economic and national security priorities, including those related to our supply chains, manufacturing, innovation, and workforce. The Department must maintain sufficient oversight of the grants it makes. While grantees can draw down on broadband grants provided under the IIJA and economic development grants provided under the American Rescue Plan Act (ARPA) until the late 2020s or early 2030s respectively, the Department will begin to run out of funding to oversee certain programs in FY 2024. The Budget includes $35 million for the US Economic Development Administration (EDA) and the National Telecommunications and Information Administration (NTIA) to continue appropriate oversight of those grants.