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Ten-Year, $460 Billion Saudi Arms Deal Spells Windfall For U.S. Defense Primes

Friday, May 26th, 2017

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The historic sale of arms to Saudi Arabia announced on President Donald Trump’s first overseas trip is expected to bestow hundreds of billions of dollars on the U.S. defense industry, which will create thousands of jobs to fill the demand for tanks, helicopters, missiles and other weapons.Most of the windfall is destined for prime contractors Lockheed Martin [LMT], Boeing [BA] and Raytheon [RTN], according to accounts of the deal worth a total of $460 billion over the next decade. Just shy of $110 billion in foreign…

Congress

Wicker Wants Legislation On DoD’s Equity Investments In Minerals Supply Chain

Legislation regarding equity investments by the Defense Department in critical mineral supply chains is needed to strengthen the larger defense industrial base and demonstrate to the “free market” that the […]

Congress

“Not Sure How They Get To Where They Wanna Be,” Calvert Says of $1.5 Trillion Defense Topline Proposal

As the federal government enters a third week of tardiness in a fiscal 2027 budget release, a big question is how the Pentagon will be able to spend $500 billion […]

Congress

Path Uncertain For $1.5 Trillion FY ‘27 Defense Topline After Trump Casts Doubt On Second Reconciliation Bill

The path to achieve the White House’s call for a $1.5 trillion defense topline in 2027 appears murkier now after President Donald Trump has cast doubt on the prospects of […]

Congress

Senate Budget Dems Push For Defense Reconciliation Spending Details, Cite ‘Slush Fund’ Concerns

Democrats on the Senate Budget Committee have raised “significant concern” with the Pentagon’s move to classify reconciliation spending plans, urging the department to provide more public details on how the […]