President Joe Biden on Friday signed into law the National Defense Authorization Act that seeks to authorize $886 billion in military spending for fiscal year 2024, Reuters reported.
The Senate voted 87-13 to pass the FY 2024 NDAA, which cleared the House in a 310-118 vote.
The NDAA reflects a 3 percent hike in the country’s total national security budget and a 5.2 percent pay increase for service personnel, according to the report.
The defense policy measure authorizes appropriations for the departments of Defense and State, Department of Energy’s national security initiatives and the Intelligence Community.
“The Act provides the critical authorities we need to build the military required to deter future conflicts, while supporting service members and their spouses and families who carry out that mission every day,” Biden said in a statement published Friday.
The president also commended Congress’ move to extend Section 702 of the Foreign Intelligence Surveillance Act.
“My administration looks forward to working with the Congress on the reauthorization of this vital national security authority as soon as possible in the new year,” Biden added.
