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Thursday, March 19, 2015

Navy's Next Generational Nuclear Submarine Fund Has No Money

Successor class SSBNThe Navy and Congress have yet to find money for a newly created account designed to pay for the services' fleet of next-generation nuclear-armed ballistic missile submarines slated to begin service in 2031 – the Ohio Replacement Program.

The special fund is a product of the concern from lawmakers and admirals that the cost of the Ohio Replacement program would bankrupt the rest of the Navy's shipbuilding budget.

As a result, the 2015 National Defense Authorization Act established the National Sea-Based Deterrence Fund – a special account created specifically to fund the Ohio Replacement program. However, Congress has yet to assign any funding to the account.

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