US Congress 8% Defence Budget increase plan
The US Congress considers an 8% rise in defence budgets to help offset inflation, in the defense authorization bill. The move would signal a greater commitment to replenishing supplies and stocks which have been sent to Ukraine, whilst a focused reduction in supply chains involving Chinese firms is on the cards also.
The amount is tens of billions higher than what was earmarked by the Whitehouse request last year. The delays in this year's DoD funding considerations has been elongated by various financial and strategic considerations, but these recent developments could set the 8% rise in motion if it passes both chambers in the following month, prior to presidential authorisation.
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