Biden’s $842B Pentagon Budget Proposal Would Boost New Weapons – By Marcus Weisgerber (Defense One) / Mar 9, 2023
The spending plan also proposes industrial-base investments.
The Biden administration is proposing a $842 billion Pentagon budget for 2024 that boosts spending on new drones, combat jets, hypersonic missiles, and submarines.
That’s up roughly $25 billion—about 3 percent—from the $817 billion appropriated four months ago for the current fiscal year, but the real change will depend on this year’s inflation rate.
The spending plan, announced on Thursday, highlights how Pentagon’s priorities are shifting in response to China’s weapons developments. Pentagon officials are expected to hold briefings about the 2024 spending plan on Monday, when more detailed budget justification documents are sent to Congress.
“The budget prioritizes resources for critical investments enabling the [Defense] Department to continue implementation of the National Defense Strategy, including building the right mix of capabilities to defending against current and future threats,” Defense Secretary Lloyd Austin said in a statement.
