F-35 Estimate Falls By $4.5B In Project's 1st Cost Reduction

Law360, New York (May 24, 2013, 5:29 PM EDT) -- The estimated cost of the F-35 Joint Strike Fighter dropped for the first time after a 12-year streak of cost increases, and a Thursday report from the Pentagon now expects its most expensive weapons program to cost $391.3 billion, a $4.5 billion drop from last year's estimate.

The stealth fighter's cost overruns and schedule delays have made it a target for criticism on Capitol Hill, but military leaders have defended spending on the fighter as essential to American security. The report marks the first year in...
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