skip to main content

Pentagon budget 2024: Biden seeks 3.2% funding boost for US DoD

US President Joe Biden's fiscal year 2024 budget request would continue developing the Columbia-class ballistic missile submarine. (US Navy)

US President Joe Biden has asked Congress to approve a fiscal year (FY) 2024 government budget request that includes USD842 billion for the US Department of Defense (DoD), up 3.2% or USD26 billion from the FY 2023 enacted level and nearly USD100 billion above the FY 2022 actual level, the Biden administration announced on 9 March 2023.

The request would maintain “robust deterrence” against China and Russia while enabling the DoD to continue countering Iran, North Korea, and “violent extremist organisations”, according to summary documents released by the White House Office of Management and Budget (OMB).

“The president's budget request provides the resources necessary to address the pacing challenge from the People's Republic of China, address advanced and persistent threats, accelerate innovation and modernisation, and ensure operational resiliency amidst our changing climate,” Defense Secretary Lloyd Austin said in a statement.

The OMB said the request includes USD9.1 billion under the DoD's Pacific Deterrence Initiative to bolster US forces, allies, and partners in the Indo-Pacific region. DoD security co-operation funding for the region would focus on such areas as command-and-control, cyber security, domain awareness, and logistics.

The request would continue support for Ukraine, NATO allies, and other European partners to counter “continued Russian aggression”, the OMB wrote. It would also provide USD37.7 billion to modernise the DoD's nuclear deterrent, including the air, land, and sea-based legs, and the nuclear command, control, and communications networks.

Looking to read the full article?

Gain unlimited access to Janes news and more...