Austin recommends increasing defense spending by more than $50 billion in 2026, Bloomberg News Reuters reports

(Reuters) – Outgoing U.S. Defense Secretary Lloyd Austin recommended the government increase defense spending by about $50 billion more than projected in fiscal year 2026, Bloomberg News reported on Monday.

Austin recommended the Office of Management and Budget leave the incoming administration of President-elect Trump with a proposed five-year defense plan starting at $926.5 billion in fiscal year 2026, compared to a projected $876.8 billion, according to a Bloomberg report.