$89,049,000 goes to a pilot program of capital assistance to the defense industrial base
What the document says“$89,049,000, to remain available until expended, to carry out a pilot program on capital assistance to support defense investment in the industrial base”
Section 1420 funds the Department of Defense Credit Program Account set up under section 149(e)(5) of title 10, United States Code, as amended by section 905(a) of the National Defense Authorization Act for Fiscal Year 2025 (Public Law 118-159). Up to $7,900,000 may be used for administrative expenses and transaction costs, and the amounts may subsidize loan principal not to exceed $4,000,000,000. The Director of the Congressional Budget Office may request project documents, and the Secretary must promptly provide them.
What the document actually says“$89,049,000, to remain available until expended, to carry out a pilot program on capital assistance to support defense investment in the industrial base”
There is $89,049,000 for loans to defense firms. The money does not run out at year end.
The loans back up to $4,000,000,000 of borrowing. The firms make parts for the military. Congress can ask to see the papers on each project.
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