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Monday, March 25, 2013
Stop-gap spending measure funds MEADS missile defense
A stop-gap spending measure passed by the Congress last week will allow Lockheed Martin Corp and its partners in Italy and Germany to complete the last year of development of a missile defense system, averting possible termination fees and international fallout.
The legislation funds the U.S. government through the end of the 2013 fiscal year on September 30, averting a shutdown this week, while giving the Pentagon and a few other agencies more say about how to achieve $85 billion in automatic spending cuts.
Cheryl Amerine, a spokeswoman for Lockheed, said the continuing budget resolution passed by Congress includes funding for the final year of development of the Medium Extended Air and Missile Defense System, known as MEADS, which was designed as a successor to the Patriot missile defense system.
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