U.S. Congress boosts funding for Boeing jet fighters, ships in defense bill -Breaking
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© Reuters. FILE PHOTO: The Boeing logo is pictured at the Latin American Business Aviation Conference & Exhibition fair (LABACE) at Congonhas Airport in Sao Paulo, Brazil August 14, 2018. REUTERS/Paulo Whitaker/File photoMike Stone
WASHINGTON (Reuters] – U.S. lawmakers wanted to boost aircraft and Navy ship purchase in order to have a solid military. The massive defense bill was published on Tuesday.
The Fiscal 2022 National Defense Authorization Act or NDAA authorizes $770 billion to national defense. This Act increases Pentagon’s request for purchase of aircraft and ships and also raises troop pay.
After the negotiations between the Democrat-Republican leaders of both the House of Representatives, and Senate Armed Services committees on what should be included in their original May budget request, the U.S. Congress issued its compromise NDAA.
Industry and other interested groups closely monitor the NDAA. This is because it is one major piece that gets passed every year.
Boeing, the jet maker (NYSE:), saw the bill increase F-15EX fighter plane funding in order to purchase 17 aircraft. In May, 12 were requested by the Pentagon. After the Pentagon had requested zero, Congress approved funding for twelve Boeing-made F/A-18E/F Super Hornets.
In contravention of a traditional trend, the bill didn’t increase the funding for F-35 fighter-jets. Lockheed Martin (NYSE:).
This bill finances the purchase of thirteen battle force vessels, including two Virginia-class submarines by Huntington Ingalls and General Dynamics (NYSE;) as well as three DDG 51 Arleigh Burke destroyers made also by General Dynamics.
In the huge annual defense bill that was passed in 2017, lawmakers included numerous efforts to resist Russia and China, including $300 million for Ukraine’s military. They also provided support for Taiwan’s defense.
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