Austin recommends $50B boost above US 2026 defense spending projections

Outgoing US Defense Secretary Lloyd Austin has recommended a boost in defense spending by about $50 billion more than the current 2026 projections, a move that could push the defense budget beyond $1 trillion in the coming years, Report informs via Reuters.

In a November 27 letter to the Office of Management and Budget that was seen by Bloomberg, Austin recommended leaving President-elect Trump's incoming administration a proposed five-year defense plan that starts with $926.5 billion in fiscal 2026, compared with a projected $876.8 billion.