US Congress Agrees $738-Billion Defense Budget For 2020, Showing 3% Increase From 2019

WASHINGTON (Pakistan Point News / Sputnik - 10th December, 2019) The Armed Services Committees of the US Senate and the House of Representatives reached an agreement on Monday to finance the country's defense spending for 2020 fiscal year in the amount of $738 billion, the statement published by the committees said.

"The Fiscal Year 2020 National Defense Authorization Act fulfills one of Congress' most important constitutional duties: to provide for the common defense. This bipartisan, bicameral agreement puts our troops and America's security first by continuing to rebuild our military, positioning our Armed Forces to meet the next wave of threats outlined in the National Defense Strategy," the statement said.

The new defense budget shows a 3 percent increase from the $716-billion budged, approved for 2019 fiscal year.

"This conference report supports a discretionary topline of $738 billion, consistent with the recent bipartisan budget agreement. This includes $71.5 billion for Overseas Contingency Operations funding. In addition, the report authorizes $5.3 billion in emergency disaster recovery to help military installations across the country from extreme weather and natural disasters," the statement said.