(WBAP 24/7 News) - The Pentagon wants to spend about $8.4 billion in the next fiscal year to continue developing and buying Lockheed Martin Corp.'s F-35, the Fort Worth-built fighterr jet that is seven years behind schedule and 70 percent over initial cost estimates.
The plan for the joint strike fighter will be part of a $526.6 billion defense budget that President Brack Obama will propose next month for the fiscal year starting Oct. 1, according to government officials familiar with the budget plan who asked not to be identified.
Funding includes $6.36 billion to build all 29 of the F-35s previously planned for 2014 - 19 for the Air Force, six for the Marine Corps and four for the Navy - according to a budget document obtained by Bloomberg News. The remaining money is for continued development and spare parts.
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