Amid a suffering economy, Biden signs 2023 $850 billion defense budget
White House announces in a statement that US President Joe Biden inks National Defense Authorization Act (NDAA) for fiscal year 2023.
The White House announced in a statement on Friday that US President Joe Biden signed the 2023 National Defense Authorization Act (NDAA).
The Act includes an estimated $850 billion spending budget for defense programs and other priority interests.
"Today, I have signed into law H.R. 7776, the 'James M. Inhofe National Defense Authorization Act for Fiscal Year 2023," Biden said in a statement.
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The 2023 NDAA would authorize $847.3 billion in national defense spending, including $816.7 billion for the Defense Department and $30.3 billion for national security programs within the Energy Department, along with a range of defense and nondefense policy provisions.
The initiative also involves the allocation of at least $800 million in additional aid to Ukraine, $10 billion to Taiwan, and contains clauses aimed at blocking the gold reserve of Russia, as well as extending the ban on cooperation with Moscow in the military sphere for 5 years.
The Act also makes it essential for the US president to impose sanctions on individuals or entities taking part in any operation or trade that involves Russian Gold.
Read more: GOP must choose battles carefully to avoid army budget menace: WSJ
It further provides a 4.6% pay raise to US military service members and Defense Department civilian employees in a bit to alleviate the cost of living crisis.
The Covid-19 vaccine mandate has likewise been rescinded from the NDAA, marking what Republican lawmakers call a "huge win" against Defense Secretary Lloyd Austin.
A new version of the 2023 National Defense Authorization Act (NDAA) was passed on Friday by the US Senate- a staggering increase considering that last year that amount was $768 billion.
The voting turnout was 83-11 and received both bipartisan support and opposition. It will now proceed to US President Joe Biden's office to be signed into law.