‘Fiscal cliff’ could hurt U research

All Vice President for Research Tim Mulcahy can do is watch, wait and hope for good news.

With time running out for Congress and President Barack Obama to reach a compromise before looming automatic tax increases and spending cuts send the federal budget over a fiscal cliff, Mulcahy says the University of Minnesota’s research budget is in jeopardy.

More than half of the University’s $1 billion in research funding comes from federal sources. If the government doesn’t amend the 2011 Budget Control Act, it will reduce federal spending by $1.2 trillion Jan. 1. READ MORE

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This story appeared in the Minnesota Daily on Dec. 11, 2012.

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