US Congress Approves USD738 Billion FY 2020 Defence Budget Deal

US President Donald Trump is expected to sign a two-year budget deal that will allow appropriators to fill defence coffers with USD738 billion next year.<br />Both House and Senate lawmakers have passed legislation suspending the debt limit through July 2021, while also setting discretionary spending at USD1.37 trillion dollars for the next couple of...

US President Donald Trump is expected to sign a two-year budget deal that will allow appropriators to fill defence coffers with USD738 billion next year.

Both House and Senate lawmakers have passed legislation suspending the debt limit through July 2021, while also setting discretionary spending at USD1.37 trillion dollars for the next couple of years. When it comes to the defence budget, the measure includes USD738 billion for fiscal year 2020 (FY 2020) before bumping it up to USD740.5 billion in FY 2021.

On 1 August, just after the Senate passed the measure, Trump called the budget deal “phenomenal” for the military and economy.

Source: www.janes.com