The White House on March 28, 2022, released President Joe Biden’s $5.8 trillion proposed budget for federal spending in fiscal year (FY) 2023.
The budget calls for $5.8 trillion in spending in FY 2023, or 24.5 percent of gross domestic product (GDP). The proposal would raise taxes on billionaires and corporations, and increase spending on both military and domestic priorities; it includes $1.6 trillion in discretionary funds – $813 billion for defense and $769 billion for non-defense. Notably, the budget omits the president’s climate and social spending package, the Build Back Better Act, Ukraine aid and additional COVID-19 relief.
The FY23 President’s Budget allows DoD to develop, procure, and modernize capabilities to ensure combat-credible forces across all domains to address the pacing challenge from the People’s Republic of China and to address acute threats from Russia.
This document and all other publications for this and previous DoD budgets are available from the public web site of the Under Secretary of Defense (Comptroller): http://comptroller.defense.gov.
