Cecilia Widegren, a Moderate party MP and chairwoman of the defense committee, said spending should be increased to the tune of SEK 5.5 billion annually.
But the opposition Social Democrats want to give more money to the military than what the government, led by the conservative Moderates, has proposed.
Social Democrat defense spokesman Peter Hultqvist said the government's proposals for sending SEK 1.1 billion more in units and materiel by 2018 is not enough. He wants spending to go up to SEK 2 billion.
"The truth is that we wanted better funding in the coming years to 2018-2019," he told Swedish Radio News.
In it's report, the commission suggested increasing the number of Gripen fighter jets from 60 to 70, as well as increasing the number of submarines to five and buying a new modern anti-aircraft system. It also wants to increase cooperation with other countries and security organizations, such as the UN, EU and NATO.
The commission was due to hand over its report on March 31, but was granted an extension after the crisis in Ukraine erupted to have more time to analyze the consequences of the instability.