An amendment to President Biden’s social spending and budget reconciliation plan adopted yesterday by lawmakers would provide the Technology Modernization Fund with an extra $250 million.
Rep. John Yarmuth, D-Ky., proposed the amendment the Build Back Better Act, which was adopted yesterday by the House Rules Committee. According to the amendment, the Technology Modernization Fund (TMF) would have until 2026 to use the fresh funding.
“In addition to amounts otherwise available, there is appropriated to the Administrator of General Services for fiscal year 2022, out of any money in the Treasury not otherwise appropriated, $250 million to remain available until Sept. 30, 2026, to carry out the purposes of the Technology Modernization Fund,” the bill amendment said.
President Biden introduced the draft framework of the $1.75 trillion Build Back Better Act in late October, with a prioritized focus on boosting spending for the nation’s social safety net and combating climate change.
Lawmakers today are scheduled to vote on the bill alongside the administration’s $2 trillion infrastructure plan.
The TMF in March received a $1 billion infusion of funds through the American Rescue Plan, but other than that, it has received only sporadic funding totaling $175 million since it was launched.
In late September, the TMF announced the seven latest projects to receive funding through the mechanism, with the General Service Administration receiving a total of $231.4 million for three projects.