Only $75 million has been sought by the Biden administration to support the Technology Modernization Fund as part of its $75.1 billion federal IT spending request for the fiscal year 2025, a significant decline from the $200 million requested for the fund in fiscal 2024, FedScoop reports.
Such a reduction for requested TMF spending comes following persistent Congress efforts to cut down the investment program's funding amid concerns with the program's repayment mechanism, with the House Appropriations Committee previously moving to completely remove its allocation in fiscal 2024 as part of efforts to curtail "wasteful spending." Moreover, the Senate Committee on Appropriations also approved legislation that would cut the $290 million TMF allocation from the American Rescue Plan. Such efforts were also accompanied by the introduction of a TMF reform bill that would force adherence to the Modernizing Government Technology Act and prolong the fund's validity until 2030.
