MILWAUKEE (AP) — Truck manufacturer Oshkosh Corporation is bidding on a federal contract to replace thousands of military Humvees, but federal budget cuts could put that program on hold.
Defense Secretary Chuck Hagel outlined a plan Wednesday for what might happen if the Pentagon has to cut more than $50 billion from the 2014 budget and $500 billion over the next 10 years as a result of the automatic spending cuts that began taking effect earlier this year.
The Milwaukee Journal Sentinel reports those cuts could result in delays in replacing 55,000 military Humvees.
Oshkosh Corp. is one of three companies bidding on the replacement contract, which is worth up to $30 billion over 20 years.
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