US President Donald Trump has said that the country’s military budget should reach $1.5 trillion in 2027.
This is significantly more than the $901 billion that Congress has already approved for 2026, Reuters reports.
Any increase in spending requires congressional approval. Although Republicans have small majorities in the Senate and House of Representatives, they have not yet shown any willingness to block the president’s plans.
In a post on Truth Social, Trump explained that the decision was made after “long and difficult negotiations with senators, congressmen, secretaries and other political representatives,” emphasizing the dangerous international situation.
Previously, he called for limiting the payment of excessive salaries and bonuses to defense executives until the companies speed up the production and maintenance of military equipment.
He also criticized the large dividend payments to shareholders of American defense companies instead of investments in factories and equipment.
“…defense contractors are currently paying enormous dividends to their shareholders and engaging in massive stock buybacks at the expense of – and to the detriment of – investment in equipment and factories. This situation will no longer be allowed or tolerated!” Trump said.
