The Biden administration has proposed an $11 billion increase in the Navy and Marine Corps’ budget for the next fiscal year to fund improvements to shipyards, submarines, and upgrades to the fleet to make ships more lethal and survivable.
The Biden administration’s new defense spending plan proposes an increase of more than $11 billion for the Navy and Marine Corps, bringing their budget to nearly $256 billion in the fiscal year 2024. The additional funds will be used to improve shipyards, and submarines, and upgrade the fleet. The Air Force and Space Force’s budget would increase to $259.4 billion, while the Army’s budget would remain relatively flat. The Navy’s proposed budget increase includes $27 billion for research and development efforts and $77 billion for procurement. The budget highlights a continued focus on developing deeper partnerships with allies and maintaining a military advantage over China.