Sec. of Defense Leon Panetta and Chairman of the Joint Chiefs of Staff Gen. Martin Dempsey reviewed the department's $525 billion proposed budget for the 2013 fiscal year during a Senate Armed Services hearing.
In addition to detailing the budget, Panetta and Dempsey spoke to lawmakers for authority to close several domestic military bases. Bloomberg News also reports that "Panetta will propose reducing military personnel and canceling the U.S. Army's C-27J transport plane."
The Defense planned 2013 spending is $51 billion lower than an earlier White House spending plan of $576 billion.
The Pentagon is under a threat of additional budget cuts as a result of last year's deficit-reduction deal. If Congress is unable to agree on a new plan for spending cuts or additional taxes, the Defense budget will be cut by $1 trillion over the next ten years.