US Department of Defense Releases Fiscal Year 2024 Budget Request 

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This week, the United States Department of Defense released its [fiscal year] 2024 budget. Secretary of Defense Lloyd J. Austin II remarks it is the “most strategy-driven request we’ve ever produced.” He also explains that a core aspect of this strategy is to keep pace with the military modernization efforts within the People’s Republic of China (PRC). 

Specifically, he notes, the Biden-Harris Administration submitted an FY 2024 budget request to Congress in the amount of $842 billion. This is up $26 billion over last year’s budget and roughly $100 billion more than FY 2022. 

The National Defense Strategy outlines the Department’s defense and security priorities contained within this FY 2024 budget proposal:

  • Defending the homeland, paced to the growing multi-domain threat posed by the People’s Republic of China (PRC)
  • Deterring strategic attacks against the United States, our allies, and our partners
  • Deterring aggression while being prepared to prevail in conflict when necessary–prioritizing the PRC challenge in the Indo-Pacific region, then the Russia challenge in Europe
  • Building a resilient joint force and defense ecosystem

The NDS aims to position the US military worldwide, designed to meet the growing global threats through integrated deterrence, military campaigning, and building durable advantages. Thus, the $842 billion FY 2024 DoD budget request will enable the DoD to advance these initiatives. Specifically, the budget breaks down to include: 

  • $61.1 billion towards air power to maintain, procure, and further develop and modernize air forces. There is a significant focus on fighter jets like the F-15EX, the F-22, the F035, and the B-21 bomber, among others.
  • $48.1 billion towards sea power to build at least nine ships for the battle force fleet. This could also include funding for the Ford-class nuclear aircraft carriers and ballistic missile submarines.
  • $37.7 billion towards broad Nuclear Enterprise modernization efforts.
  • $33.3 billion towards space capability development. 
  • $29.8 billion towards Missile Defeat and Defense modernization efforts.
  • $13.9 billion towards land support and the modernizing combat equipment for the Army and Marine Corps. This specifically includes Amphibious Combat Vehicles and Armored Multi-Purpose Vehicles.
  • $11 billion towards the delivery of lethal, precision weapons.