Wednesday, April 24, 2024
Wednesday, April 24, 2024
This Monday INSIDER Daily Digest has news on the Pentagon's response to proposed defense budget cuts, the Air Force's successor to the Minuteman III ICBM and more.
Bringing fiscal year 2024 discretionary spending back to FY-22 levels, as Republicans are reportedly considering, would result in a nearly $100 billion cut to DOD based on President Biden's FY-24 request, the Pentagon is telling lawmakers:
Pentagon says House GOP's reported budget cuts would be 'potentially devastating'
Should House Republicans support returning federal discretionary spending to levels not seen since fiscal year 2022, the nearly $100 billion reduction in funding to the Defense Department could have "harmful and potentially devastating" effects, according to a new letter from the Pentagon comptroller.
News on the Air Force's successor to the Minuteman III intercontinental ballistic missile:
USAF to seek $1B down payment to support new ICBM production start in FY-26
The Air Force's fiscal year 2024 budget advances the first part of a planned $1 billion down payment needed to launch production in FY-26 of the U.S. military's next-generation intercontinental ballistic missile, seeking $539 million in advanced procurement for the LGM-35A Sentinel.
The head of the Pentagon's Office of Strategic Capital spoke late last week at the Center for Strategic and International Studies:
DOD planning new initiatives to attract private investments to critical technologies
The Defense Department's new Office of Strategic Capital is looking to launch several initiatives this year to attract "patient investment" to areas of emerging technology deemed critical for national security, with an eye toward loan guarantees and potentially co-funding the development of new capabilities.
The first of the Arleigh Burke class of destroyers is getting a new lease on life:
Arleigh Burke gets five-year service extension
The first-of-its-class destroyer Arleigh Burke (DDG-51), which was scheduled to be retired in fiscal year 2026, will get five more years of service, the Naval Surface Force Atlantic announced this week. The warship will continue operating through FY-31, when it will turn 40.
The Navy's fiscal year 2024 budget request looks to alleviate fleet-wide maintenance delays with $13.9 billion to fund 75 ship availabilities across public and private yards and additional dollars to accelerate Virginia-class repairs:
Navy budget aims to speed submarine maintenance and production
The Navy's latest budget proposes substantial investments in submarine production and sustainment as the service looks to cut down on maintenance delays, ramp up deliveries of Virginia- and Columbia-class boats and prepare to deliver on a new agreement between the U.S., U.K. and Australia to supply the latter country with nuclear-powered subs.
Last but by no means least, a look at how inflation could impact the Army's budget:
Analysts say inflation will be higher in FY-24 than Army projects, but what will take the biggest hit in the budget?
There is general agreement that the Army has less buying power in its fiscal year 2024 budget request compared with the FY-23 enacted budget. But analysts believe inflation will be higher than the Defense Department's projection of 2.4%.