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Budget

Navy Seeking To Withhold Some Funding For Future SSN

Defense Daily Staff Defense Daily Staff
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The Navy says it is moving to renegotiate a contract for long-lead materials for a Virginia-class submarine planned for fiscal 2014 to cope with automatic budget cuts that took effect on Friday. Navy Secretary Ray Mabus said the decision to renegotiate contract modifications was an immediate response to the automatic budget cuts known as sequestration, and that other steps will have to be taken across the Navy to deal with the impact of sequestration and the possibility of a continuing…

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