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      Sen. Elizabeth Warren

      Warren, Deluzio Grill Arms-Makers on How Much They Would Benefit From GOP Tax Cuts

      "These tax breaks are nothing but corporate handouts," the lawmakers said in a letter to the CEOs of four military-industrial complex giants.

      Brett Wilkins
      Jul 26, 2023

      A pair of Democratic U.S. lawmakers on Wednesday sent a letter to the CEOs of four of the largest corporations in the military-industrial complex asking how their firms would benefit from Republicans' proposed expansion of a Trump-era tax cut under which the companies stand to save billions of dollars.

      In their letter to heads of Raytheon, General Dynamics, Lockheed Martin, and Northrop Grumman, Sen. Elizabeth Warren (D-Mass.) and Rep. Chris Deluzio (D-Penn.) took aim at Republican efforts to extend provisions of the nearly $2 trillion Tax Cuts and Jobs Act (TCJA), signed into law by then-President Donald Trump in 2017.

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      military-industrial complex
      Boeing CEO Dave Calhoun and politicians.

      Military Contractor CEOs Are Laughing All the Way to the Bank—At Taxpayer Expense

      “Huge CEO compensation,” William Hartung observes, “does nothing to advance the defense of the United States and everything to enrich a small number of individuals.”

      Sam Pizzigati
      Jun 16, 2023

      Does anyone have a sweeter deal than military contractor CEOs?

      The United States spent more last year on defense than the next 10 nations combined. A deal just brokered by the White House and House Republicans increases that amount even further—to $886 billion. Defense contractors will pocket about half of that.

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      Opinion
      ceo pay
      US unmanned drone

      Wall Street Journal Should Not Cry for Military Contractors in Debt Ceiling Fight

      It’s beyond absurd to hand-wring about the area of the discretionary budget that appears least likely to face cuts—and, by any reasonable account, the most able to survive them.

      Conor Smyth
      May 25, 2023

      The Wall Street Journal is very concerned about the effects of the debt limit fight… on military contractors. In an article (5/12/23) headlined “Debt-Ceiling Fight Weighs on Defense Industry,” the paper reported, “If the U.S. defaults on its debt and is unable to pay all its bills this summer, the pain will fall squarely on the defense industry.”

      A default could disrupt payments to military contractors, the Journal pointed out, and even a temporary suspension of the debt ceiling for several months “would raise the likelihood the Defense Department will have to make do with a temporary budget known as a continuing resolution.” This would likely “inflate the costs of military programs, delay the launch of new ones, and prevent production increases.” In short, weapons producers might feel a momentary pinch after years of war profits.

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