The Department of Defense had included a request for 83 new F-35s in the coming defense budget, but that would now be reduced to only 70 of the aircraft, saving $1.6 billion, the Reuters news agency reported on Wednesday.
Biden would cap the total military budget at $895 billion, Reuters reported, citing sources speaking on condition of anonymity.
The final agreed figure will be made public on March 11 following negotiations between Secretary of Defense Lloyd Austin and the White House Office of Management and Budget (OMB), the report said, citing the anonymous sources.
Plans to boost missile defenses at the US base on the Pacific island of Guam may also be slashed, along with planned modernization upgrades to the Ground-Based Interceptors (GBIs) in Alaska and proposed new SM3-1B interceptor missiles to be deployed on US Navy AEGIS destroyers and cruisers, the report said.