On 4 January 2011 President Obama signed into law the America COMPETES Act, reauthorized by Congress on 21 December 2010. The Act focuses on three main areas: (1) Increasing science and research investments; (2) Strengthening science, technology, engineering, and mathematics (STEM) education; and (3) Developing a national infrastructure for innovation. America COMPETES provides a three-year reauthorization for increased investment in the National Science Foundation, the Department of Energy Office of Science, and the National Institute of Standards and Technology. Although continued full funding of the Act would double the budgets at these three agencies over a 10-year period, the actual funding may vary depending on the annual appropriations from Congress.
For more information, see the Office of Science and Technology Policy website.