Joe Biden requested an additional $3.4bn to support production of nuclear submarines for the US Navy

The White House has requested additional funding to support the submarine industrial base. This would address some of the problems the industry has been facing.

Here's What We Know

The administration of US President Joe Biden has requested $50bn, including for weapons for Ukraine. This amount also includes $3.4bn to support submarine production for the US Navy:

• $2.1bn to increase the rate of construction;
• $558 million - modernisation of shipyards;
• $394 million - other procurement;
• $282 million - military construction;
• $98m - hiring and infrastructure expansion;
• $7 million - R&D.

Some of the money will be aimed at improving the industrial base due to the backlog of the plan, which calls for the delivery of two Virginia-class nuclear-powered attack submarines. The money will also be used to build a Columbia-class strategic nuclear submarine that will receive intercontinental ballistic missiles and nuclear weapons.

The White House calls the submarines one of the most effective deterrents. The additional funding would accelerate the pace of nuclear submarine construction.

As we wrote above, the U.S. Navy wants to receive two Virginia-class submarines per year. However, General Dynamic Electric Boat and Newport News Shipbuilding are far behind schedule. 410 months to be exact. The companies don't plan to reach the desired construction pace until 2028.

Source: USNI News