Lockheed Missile System Funds Withheld in Defense Bill
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The Pentagon can’t spend more than 25 percent of the money it requested this fiscal year for a Lockheed Martin Corp. mobile missile defense system until it decides whether to terminate the $30 billion program, according to lawmakers.
The fiscal 2011 defense policy bill awaiting President Barack Obama’s signature directs the Pentagon to delay putting on contract $350.2 million of a requested $467 million for the Medium Extended Air Defense System, or Meads. Defense Secretary Robert Gates hasn’t made a final decision on whether the program will be canceled.