Karen Annette Budge (born November 14, 1949) is a former World Cup alpine ski racer from the United States. She had three podium finishes and 30 top ten results in World Cup competitions between 1967 and 1972; overall her best result was 15th place in the 1969–70 season. At the 1972 Winter Olympics she placed 14th in the downhill and 23rd in the giant slalom events.