"Trump said in a Truth Social post on Wednesday that he had decided to raise the US's military budget in 2027 from $1 trillion to $1.5 trillion. "This will allow us to build the 'Dream Military' that we have long been entitled to and, more importantly, that will keep us SAFE and SECURE, regardless of foe," Trump said. He said that the larger budget would be financed by the tariffs he has imposed on almost all countries, and would secure the US during "very troubled and dangerous times.""
"Trump said in the post that tariff income was so "tremendous" that even after allocating $1.5 trillion to the military budget, the US would still be able to pay off its debts and pay dividends to "moderate income" Americans. Trump's proposed military budget is significantly higher than the budget approved by Congress for defense spending in 2026: $901 billion. The 2027 budget increase must be approved by Congress. Stock prices for defense companies saw boosts in after-hours trading on Wednesday following Trump's announcement of a larger military budget."
President Donald Trump announced raising the U.S. military budget in 2027 from $1 trillion to $1.5 trillion. He said the funds would be financed by tariffs imposed on almost all countries and described tariff income as "tremendous." He called for building a "Dream Military" to keep the country safe during very troubled and dangerous times. He said tariff revenue could still pay down debt and provide dividends to moderate-income Americans after the allocation. Congress approved $901 billion for defense in 2026; the 2027 increase requires congressional approval. He criticized defense contractors for dividends, buybacks, and high executive pay, barring those payouts until companies invest more in manufacturing. Defense stocks rose after the announcement. The announcement followed a U.S. military raid on Venezuela.
Read at Business Insider
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