The funding is already being proposed in the same House Committee with the "Securing American Leadership in Science and Technology Act" -- which proposes doubling basic research funding over the next decade at the Energy Department, National Science Foundation, National Institutes of Science and Technology, and the National Oceanic and Atmospheric Administration.
Perhaps if Schmidt's last point about building public confidence is successful, maybe public opinion would be in favor of it.
At the same time, the irony isn't lost on me that the former CEO of Google is warning about authoritarian tech.