Lockheed, Boeing warplanes get boost in US Congress
By Jim Wolf
WASHINGTON (Reuters) - Big-ticket warplane programs run by Lockheed Martin Corp (LMT.N: Quote, Profile, Research) and Boeing Co (BA.N: Quote, Profile, Research) received a boost Wednesday as the 2009 military budget wended its way through the U.S. Congress.
A House of Representatives Armed Services subcommittee recommended $3.9 billion to buy 15 Boeing C-17 cargo planes, although the Bush administration sought none and the Senate Armed Services Committee did not fund any.
Likewise, the House's Air and Land Forces subcommittee recommended an additional $523 million as a down payment on 20 more Lockheed F-22 fighters in fiscal 2010.
The Bush administration had deferred decisions on both the C-17 and F-22 production lines, leaving the next president, to be elected Nov. 4 and take office in January, to decide their fate.
The military policy bill is to be debated by the full Armed Services Committee next Wednesday before it goes to a House vote. Then it must be reconciled with a companion measure in the Senate before it can be signed into law by the president.
Rep. Neil Abercrombie, the Hawaii Democrat who chairs the Air-Land subcommittee, said the recommendations were aimed at boosting congressional oversight of costly weapons programs.
TANKER
On the radar-evading F-22 fighter, the Senate Armed Services Committee voted last week to provide $497 million that could be used either to buy more aircraft or for shutting down the line. Continued...
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