Science magazine’s analysis finds total NSF and NIH commitments in fiscal 2025 roughly matched 2024 levels—NSF committed about $8.17 billion—despite administration-level pressures and proposed cuts. But both agencies awarded significantly fewer new grants: NSF’s new research project grants fell from about 11,000 in 2024 to roughly 8,800 in 2025, and continuing-grant actions were reduced. Agency staff described forward-funding and portfolio adjustments intended to lower future fiscal obligations should deeper cuts materialize. The drop in new awards raises concerns for early-career researchers and university research pipelines. With appropriations unresolved and a continuing resolution until Jan. 30, 2026, institutions and research offices should plan for sustained uncertainty in new award volumes and prioritize sustaining existing grants and strategic proposals.