Defense contracts and financial reports

Sen. Wicker Proposes $55 Billion Boost in U.S. Defense Spending to Prevent World War

May 29, 2024, 03:35 PM

Senator Roger Wicker of Mississippi has called for a significant increase in U.S. defense spending to counter threats from adversaries such as China, Russia, and Iran. Wicker's plan proposes an additional $55 billion in defense spending for the 2025 fiscal year, with a goal to increase military spending from 2.9% of the national GDP to 5% over the next 5 to 7 years. He emphasizes the need for a 'generational investment' in the U.S. military and defense industrial base to deter coordinated threats and avoid potential conflicts. Wicker also seeks to initiate a national conversation on achieving a peaceful, prosperous, and American-led 21st century. Senate Minority Leader Mitch McConnell has endorsed Wicker's proposal, highlighting the urgent need to strengthen the U.S. military in the face of strategic competition.