Lawmakers who voted for NDAA got four and five times more money from contractors, respectively.
by Stephen Semler, Responsible Statecraft
Following the Senate’s lead, the House approved the annual National Defense Authorization Act (NDAA) on Friday, thereby authorizing $886 billion in military spending for fiscal year (FY) 2024.
By comparison, the FY2021 iteration of the bill — the last NDAA under Trump — authorized $740 billion. While Trump had managed to spike annual military spending by an incredible 20 percent in four years, Biden just accomplished the same feat in three. (Another $62 billion in Pentagon funding is included in Biden’s foreign aid bill, which is still being debated in Congress.)
This is undoubtedly good news for the arms industry. Over the last decade, 55 percent of U.S. military spending went to military contractors, and there’s no reason to expect contractors’ share of the $886 billion budget for FY2024 to be much (if any) different.
The annual military budget is the lifeblood for the arms industry, their golden goose. This is especially the case for the largest military contractors. For example, Lockheed Martin — the largest federal contractor, military or otherwise — derived 72 percent of its revenue from government contracts last year.
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