Lockheed F-35 Faces $1 Billion Cut in Senate Measure

Lockheed Martin Corp.’s F-35 Joint Strike Fighter program faces a $1 billion budget cut under a bill to finance government operations that’s advancing toward a Senate vote.

The move would strip out the JSF money, eliminating seven aircraft, from a U.S. Defense Department request for $7.86 billion and 42 planes, according to the spending measure, which didn’t give a rationale for the new totals.