DOD readying potential $90 billion in FY-24, FY-25 cuts required by debt ceiling deal

By Jason Sherman / October 10, 2023 at 11:40 AM
The Defense Department is bracing for potential budget cuts of about $90 billion to fiscal year 2024 and 2025 plans -- painful reductions likely to squeeze weapons system modernization accounts -- in the event congressional dysfunction extends into January triggering a statutory sequester provision of the June law enacted to raise the debt ceiling. The 2023 Fiscal Responsibility Act set FY-24 and FY-25 defense spending levels at $886.3 billion and $895 billion respectively and includes a provision that would slash...

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