President Biden has unveiled a $5.8 trillion budget request for the coming fiscal year that would increase federal spending on cybersecurity by billions of dollars. The proposed investments “will, in alignment with the administration’s priorities, focus on addressing root cause structural issues, promoting stronger collaboration and coordination among federal agencies, and addressing capability challenges that have impeded the government’s technology vision.”
Mariano Nunez, CEO at Onapsis:
"The FY2023 budget proposal clearly demonstrates cybersecurity continues to be a top priority for the federal government. Repeated warnings from CISA and the Biden Administration on the Russian cyber threat over the last few weeks have heightened the state of alertness for U.S. agencies and businesses across industries, which are expecting 'tit-for-tat' cyber attacks from Russia in response to the economic sanctions.
Additional funding for cybersecurity within the federal government is extremely important in this new era of interconnected risk, especially between business applications and critical operational technology infrastructure. Prioritizing the modernization of aging technology stacks will be essential to mitigate rising cybersecurity vulnerabilities, and ensure the security of the Nation's most critical systems and applications from malicious cyber campaigns."
Nick Tausek, Security Automation Architect at Swimlane:
"As it currently stands, President Biden’s budget proposal would increase federal spending on cybersecurity by billions, including a nearly $500 million budget increase for CISA. This proposed spending increase is a testament to the continued prioritization of cybersecurity within the federal government and highlights the importance of shoring up the nation’s cybersecurity strategy and infrastructure.
Although it is very likely that this proposal will go through numerous changes before being approved, the increased investment in cybersecurity, combined with recent security directives around Zero Trust, Logging, and Security Orchestration, Automation and Response (SOAR) are an encouraging steps for the future of the nation’s cybersecurity strategy. While it’s hard to pinpoint the chances the whole budget has of passing in its current form, it seems likely that the cybersecurity measures will remain largely unchanged due to their emphasis on national defense."