President Donald Trump has brokered a deal with Lockheed Martin to cut $600 million off the cost of the F-35 fighter jet program, according to CNBC.
Early in January, Lockheed CEO Marillyn Hewson said the company was "close to a deal" to lower the cost.
“The F-35 program and cost is out of control,” President-elect Donald Trump wrote on Twitter in December of 2016, criticizing the behind schedule and over budget fighter jet program by Lockheed Martin.
BREAKING: Trump says $600M cut off of F-35 joint strike fighter cost; appreciates Lockheed Martin for being responsive on cost cuts— CNBC Now (@CNBCnow) January 30, 2017
The U.S. Government Accountability Office released their findings of the F-35 program and found there will be significant delays in the aircraft's mission systems and flight sciences.
To execute the program as planned, the Department of Defense (DOD) will have to increase funds steeply over the next 5 years and sustain an average of $12.6 billion per year through 2037; for several years, funding requirements will peak at around $15 billion.