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Biden Signs $768.2 Billion Defense Spending Bill Into Law

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FILE - President Joe Biden speaks as he announces that he is nominating Jerome Powell for a second four-year term as Federal Reserve chair, during an event in the South Court Auditorium on the White House complex in Washington, Nov. 22, 2021. The Biden administration on Friday, Nov. 26, called for an overhaul of the nation’s oil and gas leasing program to focus on areas that are most suitable for energy development and raise costs for energy companies to drill on public lands and water. (AP Photo/Susan Walsh, File)

(AP) — President Joe Biden has signed the National Defense Authorization Act into law, authorizing $768.2 billion in military spending, including a 2.7% pay raise for service members, for 2022. The NDAA authorizes a 5% increase in military spending over last year, and is the product of intense negotiations between Democrats and Republicans over issues ranging from reforms of the military justice system to COVID-19 vaccine requirements for soldiers. The price tag marks $25 billion more than Biden initially requested from Congress, a prior proposal that was rejected by members of both parties out of concerns it would undermine U.S. efforts to keep pace with China and Russia.

 

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