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Defense Readiness Fund: Weapons and Infrastructure for Indo-Pacific

This bill establishes a new fund to strengthen US defense capabilities in the Indo-Pacific region. It reallocates unused Department of Defense funds for this purpose. The aim is to boost weapons production and improve military infrastructure, potentially impacting national security and regional stability.
Key points
A new fund (FIRES Fund) is established, financed by unused Department of Defense funds, for defense purposes.
Money from the fund will be used for munitions production, military facility construction, and air and naval infrastructure in the Indo-Pacific region.
At least 10% of the funds will go towards contracts with small and medium-sized businesses and non-traditional defense contractors, potentially creating new business opportunities.
Control and reporting mechanisms for expenditures are introduced to ensure transparency in fund utilization.
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Status:
Expired
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Additional Information
Print number: 118_HR_5753
Sponsor: Rep. Gallagher, Mike [R-WI-8]
Process start date: 2023-09-27