Live Updates > Live Update Details
2026-04-03 22:37:36
The White House formally submitted its fiscal year 2027 budget proposal to Congress, with defense spending significantly increased to $1.5 trillion, an increase of approximately $445 billion from the previous fiscal year. The budget document shows that approximately $1.15 trillion is allocated for discretionary defense spending, while at least $350 billion will be allocated through budget reconciliation mechanisms to expand the defense industrial base. This arrangement comes against the backdrop of the escalating military conflict between the US and Iran. At the same time, the government plans to cut $73 billion in non-defense spending. Specifically, the budget will increase critical munitions reserves, accelerate the construction of the Trump administration's "Golden Dome" missile defense system, and increase investment in key minerals and domestic supply chains. In addition, the budget allocates approximately $65.8 billion for shipbuilding, planning to build 41 new ships, described as the largest shipbuilding program since the Roosevelt era. The budget document states that the increase in defense spending is close to pre-World War II levels, aimed at addressing current global security challenges and comprehensively enhancing the U.S. military's readiness and combat capabilities.
