A bill to reduce the number of nuclear-armed submarines operated by the Navy, to prohibit the development of a new long-range penetrating bomber aircraft, to prohibit the procurement of new intercontinental ballistic missiles, and for other purposes.

Smarter Approach to Nuclear Expenditures Act This bill prohibits the obligation or expenditure of Department of Defense (DOD) funds: (1) for procuring more than eight Columbia-class submarines; (2) to maintain more than 150 deployed intercontinental ballistic missiles; or (3) through FY2024, for the research, development, test, and evaluation (RDT&E) or the procurement of the B-21 long-range penetrating bomber aircraft. The bill prohibits the obligation or expenditure of DOD or Department of Energy (DOE) funds: to maintain more than 1,000 deployed strategic warheads, as counted under the New START Treaty; to make the F-35 Joint Strike Fighter aircraft capable of carrying nuclear weapons; for extending the life of tactical versions of the B61 gravity bomb; for the RDT&E or procurement of a new air-launched cruise missile or for the W80 warhead life extension program; for the RDT&E or procurement of the ground-based strategic deterrent or any new intercontinental ballistic missile; for the IW-1 life extension program; for the Mixed Oxide Fuel Fabrication Facility project at the Savannah River Site, Aiken, South Carolina; or for the Uranium Processing Facility located at the Y-12 National Security Complex, Oak Ridge, Tennessee. DOD and DOE must report to Congress on the plans for, and the estimated cost savings from, carrying out this bill.