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Investing.com -- Republican lawmakers in the U.S. Congress are set to introduce a comprehensive $150 billion defense package that includes an initial $27 billion funding increase for President Donald Trump’s Golden Dome missile defense system. The package also aims to strengthen shipbuilding, as per Reuters, citing information from a congressional aide and a document.
The proposed legislation would significantly augment the national defense budget, allocating funds for the construction of 14 warships and increasing homeland security spending. This move would add an additional $150 billion to the already sanctioned $886 billion national security budget for 2025. The package is expected to be included in President Trump’s extensive tax cuts bill, which is projected to reduce taxes by around $5 trillion and add an estimated $5.7 trillion to the federal government’s debt over the coming ten years.
The defense package was negotiated by the Republican leaders of the House and Senate Armed Services Committees and is expected to be formally presented as early as Friday evening, according to Reuters, citing Republican Senator Roger Wicker, who is also the chairman of the Senate committee.
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