Biden Signs Defense Policy Bill with Record Spending

U.S. President Joe Biden signed the American defense policy bill into law yesterday, establishing a record annual spending level of $886 billion for military expenditures and policies, including aid to Ukraine and addressing China in the Indo-Pacific region. The U.S. Congress approved the National Defense Authorization Act last week, with the Senate passing the legislation with a strong bipartisan majority of 87 votes to 13, while the House voted in favor with a majority of 310 votes to 118. The law calls for a 5.2% pay increase for soldiers and an overall increase in the nation’s national security budget by approximately 3% to $886 billion, as well as including certain Chinese battery companies that it states are ineligible for Department of Defense purchases.