Industries Inc. founder Palmer Luckey said he expects US defense spending to remain broadly stable even if Democrats win control of Congress in next week’s midterm elections.

Most Democrats with influence over the defense budget “understand that we’re in a really unique period of time” and recognize the need to replace legacy systems against a near-term threat, Luckey said Tuesday in an interview on Bloomberg Television. Defense-tech startups like Anduril probably would benefit no matter which party controls spending, he said.

“Even with a blue wave, you’re not necessarily going to see a huge change in defense spending,” Luckey said. “I think most people on the red and the blue side agree that America needs to be investing in new technology.”A Democratic takeover of one or both chambers of Congress would give the party a platform to push back more effectively against President Donald Trump’s priorities. While Democrats have mostly campaigned on support for military readiness and rebuilding US weapons inventories, they are sharply critical of the war in Iran and White House national security policies.

Luckey, who described himself as “an engineer, not a politician,” was tapped by the Defense Department earlier this month to co-lead a 120-day study of the future of warfare. The Project Meridian initiative is intended to help design weapons that the US will need in years ahead. Luckey’s co-leaders are Elon Musk and former House Speaker Newt Gingrich.

The 20-person group is still coming together, Luckey said. He said he hopes the final report, due in January, will reflect a genuine diversity of perspectives rather than recycling well-known conclusions.

“We know what the threat is in the Pacific, we all know what the threat is on the bio and chem side,” Luckey said. “I would like to focus on things that otherwise might not get attention, including things that might not get my attention.”