Federal Government FY24 Budget Priorities
FY 24 Budget Priorities:
As we head into the Spring and early Summer, the US Government’s FY24 budgeting process is in full swing. Every week, agencies are in front of Congressional committees reviewing and justifying their budget requests for FY24. This is a stark reminder to Government focused sales organizations that FY23 is already half over, and you might want to start thinking about the Government’s FY24 spending plans and priorities.
The Administration has stated that the2024 budget request aims to tap into the strengths of cutting-edge technologies like digital identity and artificial intelligence (AI) while restructuring the security capabilities of software and cloud services used by the Federal Government.
Marion Square has been following these budget requests, and below is a high-level overview of what we are seeing and hearing regarding the Federal Government’s key priorities for FY 24.
Cyber
Cyber is always a focus area for Government. In FY24, Zero Trust will be a main area of focus for Federal Civilian agencies as they work to achieve the Zero Trust objectives laid out in last year’s Executive Order 14208 and OMB memo.
Cybersecurity Infrastructure Security Agency (CISA) in particular will see their budget increased by $145M to $3.1B to fund key initiatives like the Cyber Incident Reporting for Critical Infrastructure Act and to make improvements with internal cybersecurity and analytical capabilities.
Critical and Emerging Technologies (CET)
This area has become a hot topic over the last 18 months and includes critical technologies like AI, Quantum, and 5G. The Federal Government is investing a record $210B for research and development programs supporting the advancement of CET (federal research and development). Agencies that are benefiting the most from this investment include DoD, Department of Energy, and National Science Foundation.
Citizen Experience
The Government, across the board, is increasing its spending on programs that make it easier for citizens to access and interact with Government agencies and programs in response to Executive Order 14058 (CX Executive Order 14058). The FY 24 budget request includes $500 million to modernize and improve numerous federal services and deliver “customer experiences that are more simple, seamless and secure”. A great example is TSA, which is requesting $3.7 million to enhance the agency’s Customer Experience Strategic Initiatives.
Conclusion:
While the FY24 budget is not final, the key tenants and priorities of the budget are being set now. With that, Government focused sales organizations need to be monitoring the funding priorities and agency specific budgets and ensuring that their go to market plans and resource allocations will position them to execute effectively next fiscal year.