Austin wants a boost in defense spending beyond $1 trillion

Robert Besser
16 Jan 2025, 23:31 GMT+10

Austin recommended a five-year defense plan for President-elect Trump's incoming administration that could exceed US$1 trillion
The plan would start with US$926.5 billion in spending for fiscal year 2026, compared to the currently projected $876.8 billion
The Pentagon and the Office of Management and Budget have not yet responded to requests for comment

WASHINGTON, D.C.: In a letter dated November 27 to the Office of Management and Budget, Austin recommended a five-year defense plan for President-elect Trump's incoming administration that could exceed US$1 trillion.

The plan would start with US$926.5 billion in spending for fiscal year 2026, compared to the currently projected $876.8 billion.

The Pentagon and the Office of Management and Budget have not yet responded to requests for comment. In the letter, Austin wrote that he still believes that defense strategy demands spending growth beyond inflation and that new investments should be sustained from 2026 to 2030, Bloomberg said.

President Joe Biden's 2025 defense budget, announced in March 2024, was only one percent higher than the previous year due to a budget deal from mid-2023 that capped increases at one percent. This limited spending on various programs and delayed efforts to replenish weapons supplies reduced by wars in Ukraine and Israel.

Austin's proposal also includes $972.8 billion in spending for fiscal 2027 and over $1 trillion for fiscal 2028, with projections exceeding $1 trillion in 2029 and 2030. However, the proposed budget focuses solely on the Pentagon and does not include aid for Israel or Ukraine.

It remains unclear whether President-elect Trump will adopt Austin's suggestions. Last week, Trump stated that NATO members should spend five percent of their GDP on defense, a significant increase from the current two percent target.

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