The Biden administration proposed a new defense budget on Monday that seeks to increase spending to confront “constantly emerging” threats from North Korea and other challenges, according to the U.S. Department of Defense.

The $773 billion budget for fiscal year 2023 was submitted to Congress and includes nearly $56.5 billion for air power platforms and systems, more than $40.8 billion for sea power capabilities, nine battle force ships and some $12.6 billion to modernize Army and Marine Corps fighting vehicles, the Pentagon announced in a statement.

The new budget request also supports modernization of American “nuclear deterrent” capabilities.

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