The EU Parliament proposed a budget of €193.9 billion for 2026, aiming to strengthen competitiveness, research, and defense. MEPs seek to increase funding for key programs like Erasmus+ and EU4Health and address repayment costs for the recovery plan without compromising essential programs. They emphasize the importance of investing in research, infrastructure, response capabilities, military mobility, and addressing geopolitical instability and global crises. The Parliament insists on using a cascading mechanism to manage borrowing costs and protect critical programs, highlighting the budget's role in supporting a stronger Europe.