White House to release budget May 27

The fiscal year 2022 budget will be released May 27, according to the White House Office of Management and Budget.

The Biden administration has set a $715 billion topline for the Pentagon and a total defense budget of $753 billion.

The total defense budget proposed for FY-22 is a 1.7% increase above the $740.5 billion enacted in FY-21. The Trump administration had projected $759 billion.

In FY-21, Congress enacted $704 billion for the Pentagon, making Biden's new proposal a slight decrease in real terms when adjusting for inflation.

Key Democrats on the House and Senate Armed Services committees say they support Biden's defense topline, while Republicans seek an increase between 3% and 5%. More progressive Democrats seek a 10% cut to defense spending, but the partisan breakdown of Congress makes such a reduction unlikely.