A proposal by the House Republican Study Committee to roll back federal spending to 2006 levels could cut NASA's annual budget by 20%.
The Fiscal Year 2011 NASA budget is about $19 billion. According to Wikipedia, the FY 2006 NASA budget was $15.1 billion. Rolling back the NASA budget to 2006 would cut about $4 billion, or about 20%.
To quote from the committee's press release:
Compared to current projections, the Spending Reduction Act would save taxpayers $2.5 trillion through 2021. It starts by keeping House Republicans’ pledge to take current spending back to 2008 levels and repeal unspent funds from the failed “stimulus.”
At the beginning of the next fiscal year on October 1, 2011, spending is further reduced to 2006 levels and frozen there for the next decade. To help achieve these savings, the bill shrinks the size and cost of the civilian federal workforce and specifically targets over 100 budget items and spending reforms.
Click here the read the bill.
The proposal does not specifically mention NASA, however the space agency would fall within the category of non-defense discretionary spending targeted by the committee.