Archive: Budget

A 1,000-Warhead Arsenal Could Slash U.S Deficit by $13 Billion Over Two Decades, CBO Says

The United States could shave about $13 billion off the federal deficit over about 20 years by slashing some 500 warheads from the nation’s nuclear arsenal, the nonpartisan federal Congressional Budget Office said Thursday. The suggestion was only one of many money-saving ideas in the biennial Options for Reducing the Deficit report, which this year […]

Smith: Readiness Funding Will Not Be Cut in FY ’20 Defense Budget

Despite plans to take a hard look at the Defense Department’s forthcoming fiscal year 2020 budget request, the House Armed Services Committee’s (HASC) incoming chairman will ensure that readiness funding is safeguarded to mitigate aviation mishaps and other incidents. Military readiness is “one thing that I will not look to cut, … absolutely not,” Rep. […]

CBO Report: Cost to Replace Air Force Fleet to Top $26 Billion in 2033

The cost to replace the Air Force’s aging aircraft fleet and build new advanced jets is only expected to rise over the next three decades, averaging between $15 billion and $23 billion through 2040, according to a new Congressional Budget Office report. The CBO report, titled “The Cost of Replacing Today’s Air Force Fleet” and […]

Pentagon’s FY ‘20 Budget Request to Be Revealed Feb. 4

The Pentagon will unveil its fiscal year 2020 presidential budget (PB) request Feb. 4, the department’s chief military spokesman said Dec. 10. Whether the topline will be $700 billion or $750 billion remains to be seen. Army Col. Robert Manning declined to comment on recent reports that President Trump is now considering submitting a $750 […]

Tyndall To Host F-35s After Rebuilding, F-22s To Be Re-Assigned

The Air Force plans to host three F-35 squadrons at Tyndall Air Force Base, Florida, and is seeking supplemental funding to rebuild the base in order to receive the Joint Strike Fighter, the service announced Dec. 7. If the decision is approved and supplemental funds are appropriated, F-35s could be based at Tyndall by 2023, […]

Huntington Leader Pushes for Increased Defense Budget to Support Shipbuilding Priorities

As Pentagon officials and lawmakers mull the topline of the fiscal year 2020 defense budget, Huntington Ingalls Industries [HII] will be focused on ensuring the Navy’s next generation of nuclear submarines remains sufficiently funded without sacrificing other shipbuilding priorities, the company’s leader said. The forthcoming Columbia-class of nuclear submarines has been identified as a top […]

House Passes Coast Guard Authorization Bill

The House on Tuesday evening approved by voice vote a two-year authorization bill for the Coast Guard, sending the legislation to President Trump to be signed into law. The bill gives the Coast Guard multi-year contracting authorities for major acquisition programs, allowing the service to acquire assets more efficiently and at lower costs. The bill […]