A comprehensive balloon research and development (R&D) plan was developed by NASA in 1986 and implemented in 1987. The objectives are to develop the understanding of balloon system performance, limitations, and failure mechanisms. The program consists of five major technical areas: structures, performance and analysis, materials, chemistry and processing, and quality control. Research activities are being conducted at NASA/Goddard Space Flight Center (GSFC)/Wallops Flight Facility (WFF), other NASA centers and government facilities, universities, and the private sector. Significant technical advances have been made in the structural design and analysis of balloons, vertical flight performance modeling, materials characterization, materials development and processing, and the development of automated flight control hardware and software. This has resulted in new balloon designs with increased capabilities with improved flight control. The recent findings, new capabilities, and plans for the NASA Balloon R&D Program will be presented.