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TEG Working Group News Roundup May 26-June 2

TEG Working Group News Roundup May 26-June 2
Wed, 06/14/2023 – 14:18
In this week’s edition: Lawmakers seek ways to increase Pentagon funding despite debt deal; Ukraine and allies plan peace summit without Russia; new bill promotes cybersecurity cooperation between US and Abraham Accords nations; and deepfake videos in challenge 2024 election integrity. Additionally, the Defense Innovation Unit plans hypersonic testbed flight; hackers exploit vulnerability in file transfer software; and investors use AI for dealmaking edge.

Industrial Policy & International Security

The debt deal limits Pentagon spending. Lawmakers are already figuring out ways around it. | Politico

Lawmakers in both parties are seeking ways to increase Pentagon funding despite the newly passed debt ceiling deal. The deal, which establishes an $886 billion military budget, was passed by the House and Senate within hours of each other. Republicans claim the deal provides insufficient defense funding and demanded an emergency supplemental, noting the 3.3 percent increase falls below the rate of inflation. Some lawmakers see an emergency funding bill for Ukraine as a means to override the defense spending caps. Overseas contingency operations funds have been similarly used since the early 2000s to circumvent sequestration spending caps. Regardless, revisiting the Pentagon budget will …read more

Source:: Hoover Institution


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