Debt ceiling deal finalizes Biden’s proposed defense budget

The deal to raise the debt ceiling through the end of next year and cut spending locks in JoeBiden's proposed defense budget at its cap.

Biden’s budget request, released in March, includes $842 billion for the Department of Defense and roughly another $44 billion for non-Pentagon defense spending, totaling approximately $886 billion. The deal, which House Speaker Kevin McCarthy and Biden announced over Memorial Day weekend to avoid the U.S. defaulting on the national debt, caps national security spending for fiscal 2024 at that $886 billion mark, a 3.3% increase over this year.

Last year, Congress opted to add $40 billion to Biden's fiscal 2023 defense budget due to concerns of inadequacy, and while some Republicans, like Graham, expressed intent to do that again after the president's new budget proposal, now that's in question.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

dcexaminer /  🏆 6. in US

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

McCarthy and Biden's debt ceiling deal could impact student-debt relief, food stampsMcCarthy and Biden's debt-ceiling deal could hurt student-loan borrowers and people on food stamps — and cost some Americans their jobs
Read more »

Debt limit: Rand Paul offers alternative to debt ceiling deal as some House Republicans rebuke agreement.SenRandPaul has presented an alternative plan to the recent Fiscal Responsibility Act introduced by JoeBiden and SpeakerMcCarthy. Paul's proposal comes as the agreement from McCarthy and Biden has drawn discontent among some Republican lawmakers.
Read more »

President Biden Calls Lawmakers for Support as Debt Ceiling Deal Goes for VotePresident Joe Biden says he “feels good” about the debt ceiling and budget deal negotiated with House Speaker Kevin McCarthy as the White House and congressional leaders work to ensure its passage this week.
Read more »

Asia markets set to mostly rise after U.S. reached tentative debt ceiling deal over weekendU.S. President Joe Biden and congressional leaders reached a tentative deal on raising the debt ceiling.
Read more »

Fact Check: Did Donald Trump promise to eliminate national debt?Former President Donald Trump was accused of breaking a pledge to eliminate all national debt.
Read more »

Was Joe Biden in the military? President, Beau Biden military recordsThe Bidens have a long association with the military.
Read more »