The United States Department of Defense revealed on Monday the details of the Biden administration's $842 billion worth fiscal year (FY) 2024 Defense Budget request, stating that Beijing remains Washington's "pacing challenge."
In a statement, US Defense Secretary Lloyd Austin explained that this budget is "the most strategy-driven request" ever produced. "As the PRC [People's Republic of China] races to modernize its military, this budget will sharpen our edge by making critical investments across all timeframes, theaters, and domains," Austin said.
He noted that major investments will be made in "integrated air and missile defenses and operational energy efficiency, as well as in our air dominance, our maritime dominance, and in munitions, including hypersonics." The amount the Biden administration asked for is 3.2% higher compared to the FY2023 budget and 13.5% higher compared to the FY2022 budget.
