💰 Financial Record

This document contains the conclusion of a memo from MIT administrators Martin A. Schmidt and Maria T. Zuber regarding proposed federal cuts to indirect cost recovery for research grants. They warn that a cap on these costs would severely impact MIT's ability to maintain research infrastructure, potentially leading to layoffs, salary freezes, or facility deterioration. The document specifically references a proposed 22% cut to the NIH budget (likely circa 2017) and is part of a document production for the House Oversight Committee investigation (likely regarding MIT's financial ties to Jeffrey Epstein, though Epstein is not named on this specific page).