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The Latest Breaking News from Defense Spending

Lawmakers unveil bill to avoid gov't shutdown, boost Ukraine

Congressional leaders have unveiled a $1.7 trillion spending package early Tuesday that includes another large round of aid to Ukraine, a nearly 10% boost in defense spending and roughly $40 billon to assist communities across the country recovering from drought, hurricanes and other natural disasters

The Independent UK

Japan set to rise in defense spending ranking

The defense buildup approved by the government on Friday could see Japan's ranking in terms of defense expenditures rise to third in the world based on planned spending of about 11 trillion yen in fiscal 2027.

The Japan News/Yomiuri

Nevada naval air base expansion heads to Biden's desk

The U.S. Senate passed a massive expansion of a northern Nevada naval air base as part of its defense spending bill that is set to finalize a historic transfer of public land to military use

The Independent UK

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1 Defense Stock to Buy Before the End of the Year and 1 to Sell

Heightened geopolitical tensions have led to increasing defense spending, boding well for the industry. While we think quality defense stock Lockheed Martin (LMT) could be an ideal addition to your portfolio before the year ends, Boeing Company (BA) might be best avoided now, considering its bleak fundamentals. Read on….

StockNews.com

Corporate tax hike eyed to cover planned rise in defense spending

A possible corporate tax hike has become the focus of attention for the government and the ruling parties as they look for a stable source of funds for a planned defense spending increase, according to sources. They also plan to discuss the idea of targeting the corporate tax hike at…

The Japan News/Yomiuri

News briefs

Lawmakers drop journalism act from ‘must-pass’ defense spending bill under pressure from Facebook

Tribune News Service

Lawmakers drop journalism act from ‘must-pass’ defense spending bill under pressure from Facebook

An effort to add proposed journalism legislation to an annual “must-pass” defense spending bill was shot down by lawmakers after a public face off with Meta/Facebook over required payments to publishers for online news content.

Chicago Tribune

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43 trillion yen. on defense over next 5 years

Prime Minister Fumio Kishida has instructed his defense and finance ministers to earmark a total of about 43 trillion yen for defense spending under the nation's Medium Term Defense Program over the five years from fiscal 2023.

The Japan News/Yomiuri

Over 40 trillion yen sought for 5-year defense plan

Defense spending is planned to be set at more than 40 trillion yen in the next five-year defense program from fiscal 2023, according to sources.

The Japan News/Yomiuri

Political Pulse / Kishida aims to beef up defense, tackle bureaucratic sectionalism

Prime Minister Fumio Kishida has set several goals to bolster Japan's deterrence capability. One of these goals is to increase the defense budget over the next five years to match the North Atlantic Treaty Organization target of 2% of gross domestic product. Historically, Japan has limited its defense spending to…

The Japan News/Yomiuri

Kishida calls for more expansive calculation of defense spending

Prime Minister Fumio Kishida has instructed government ministries and agencies to consider a new framework under which budgets related to public infrastructure and research projects would be counted in the nation's defense-related expenditures.

The Japan News/Yomiuri

LDP eyeing corporate, income tax hikes

Yoichi Miyazawa, the chairperson of the Liberal Democratic Party's Research Commission on the Tax System, hinted in a recent interview that the LDP would consider raising corporate and income taxes to fund an increase in defense spending.

The Japan News/Yomiuri

As Japan Marks Atomic Bomb Anniversary, Threat From China Breaks Military Taboo

Japan is planning for a massive increase in defense spending driven by the threat from China, breaking a decades-long taboo over the build-up of armed forces following its defeat in 1945.

The News Lens

Senate appropriators want $4 billion for ships Navy didn’t seek

WASHINGTON — The Senate Appropriations Committee’s new defense spending bill would add $4 billion to the Navy budget — money the Navy did not seek and much of which the Armed Services and House Appropriations panels did not approve — for warships built largely by the constituents of senior appropriators.

Tribune News Service

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Roll Call

Senate appropriators want $4 billion for ships Navy didn't seek - Roll Call

The Senate 2023 defense spending bill would boost the Navy budget for ships built largely by the constituents of senior appropriators.

Reuters

U.S. discussing America-made fighter jets for Ukraine

(This July 22 story corrects first paragraph to show war about to enter sixth, not fifth, month)

Reuters

Japan to forgo setting ceiling on next year's defense spending - Nikkei

Japan will forgo setting a ceiling on defense spending in next fiscal year's annual budget, the Nikkei newspaper reported on Saturday, highlighting Tokyo's interest in boosting defense at a time of tension with its powerful neighbour China.

StockNews.com

2 Defense Stocks to Beat the Bear Market

With a hawkish Fed and rising recession risk, there are very few areas for investors to find outperformance. One option is defense & aerospace stocks as these companies' revenues are pretty insulated from economic or monetary policy. Read on to find out why Lockheed Martin (LMT) and Northrop Grumman (NOC)…

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Benzinga

Marijuana & Military Troops: House Lawmakers Approve Two Cannabis-Related Measures

House lawmakers approved two amendments to a must-pass defense spending bill concerning marijuana-related issues in the U.S. military. The House Armed Services Committee passed both measures on voice votes during a markup of the National Defense Authorization Act (NDAA).

Roll Call

Defense spending battle lines - Roll Call

CQ Roll Call’s David Lerman and Peter Cohn delve into the bipartisan NDAA bill that upped the ante on defense spending.

StockNews.com

4 Defense Stocks to Buy With Rising Geopolitical Tensions

The rising geopolitical tensions in eastern Europe have led to increased defense spending in the United States. Moreover, with new members joining NATO, American defense contractors are expected to benefit. Hence, prominent defense stocks Lockheed Martin (LMT), Northrop Grumman (NOC), Boeing (BA), and Raytheon (RTX) might be the ones to…

The Japan News/Yomiuri

Political Pulse / Concerned public, not gaiatsu, now drives strong security policies

Japan has been both cautious and passive about evolving its security policy for a long time. Japan has a well-known history of being forced to change its policies by gaiatsu (foreign pressure) from the United States. Even though gaiatsu hasn't disappeared, we are now heading into a new era in…

The Japan News/Yomiuri

Economic, fiscal reform draft hints at spending 2% of GDP for defense

Much attention was focused on how the draft of the government's economic and fiscal reform policy would refer to an increase in defense spending. Released Tuesday, the draft of the Basic Policy on Economic and Fiscal Management and Reform ultimately did not specify the range of increase, but did refer…

The Independent UK

German parties reach deal to move ahead with defense boost

Germany’s governing coalition and the main opposition party have reached a deal to move ahead with a big increase in defense spending that Chancellor Olaf Scholz announced three months ago

The Japan News/Yomiuri

Govt to discuss 'substantial' increase in defense budget

The government and ruling parties plan to begin full-scale discussions to boost the country's defense budget in the next fiscal year and beyond, after Prime Minister Fumio Kishida told U.S. President Joe Biden during the pair's summit in Tokyo on Monday that Japan will secure "a substantial increase" in its…

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