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The charter of PCAST's (President's Council of Advisors on Science and Technology) Panel on Federal Investment in Science and Technology and its National Benefits is to review the federal government's research and development (R&D) portfolio and make recommendations on areas where programs should be expanded, curtailed, or maintained. It is planned that the Panel's observations and recommendations be made in time to provide input to the President's budget submission to Congress for Fiscal Year 2004.

The research described in this report was performed under the auspices of RAND's Science and Technology Policy Institute.

This report is part of the RAND Corporation monograph report series. The monograph/report was a product of the RAND Corporation from 1993 to 2003. RAND monograph/reports presented major research findings that addressed the challenges facing the public and private sectors. They included executive summaries, technical documentation, and synthesis pieces.

The RAND Corporation is a nonprofit institution that helps improve policy and decisionmaking through research and analysis. RAND's publications do not necessarily reflect the opinions of its research clients and sponsors.