He's a board member with Pfizer and Illumina, also a CNBC contributor. Dr. Gottlieb, thanks for being here today. First of all, describe what happened. Why was the funding cut and where was it impacted? Well, There's a proposed cut in the president's budget for 2026 that's quite substantial, I think on the order of $17 billion. But for this year, the NIH is very far behind their spending goals. And so they're about $2.3 billion right now behind where they would normally be if they were spending the budget that was allocated for 2025. (00:31–00:38)
CLAIM
Asserts that the president's budget for 2026 proposes a $17 billion cut.
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