Defense contractors would be barred from buying back their stock in bill approved by Senate panel

Senator Elizabeth Warren, a Democrat from Massachusetts and ranking member of Senate Banking, Housing, and Urban Affairs Committee, left, and Senator Jack Reed, a Democrat from Rhode Island, speak during a confirmation hearing in Washington, DC, US, on Thursday, Oct. 30, 2025. Eric Lee | Bloomberg | Getty Images The Senate Armed Services Committee approved a must-pass bill with a provision that could bar some defense contractors from executing stock buybacks or paying dividends unless they have Defense Department approval. The measure, an annual bill known as the National Defense Authorization Act , was approved 18-9 in a closed-door committee meeting last week. The stock buyback provision's inclusion in the committee's bill greatly increases its chances of becoming law and sets up a potential sea change in how the Pentagon interacts with some of the country's largest businesses. Its bipartisan nature also underscores how Republicans under President Donald Trump have abandoned some of their free-market orthodoxy to join with more interventionist Democrats. The mandate is expected to face fierce blowback from the companies to which it would apply, such as Lockheed Martin , Northrop Grumman and Boeing . Sen. Elizabeth Warren , D-Mass., a committee member, helped secure the measure's inclusion in the committee's bill. …