President Biden signed into law a defense budget allocation bill worth $886 billion for 2024, the highest level in history.
US President Joe Biden on December 22 signed the National Defense Authorization Act (NDAA) for fiscal year 2024, regulating the Pentagon’s operating policies and allocating a budget package worth 886 billion USD, a week after this document was passed in the US Congress.
The bill is nearly 3,100 pages long, marking the largest defense budget package in US history, an increase of about 3% compared to last year. This package includes spending to increase salaries for US soldiers by 5.2%, build 9 new naval ships, and response initiatives to strengthen combat capabilities in the Indo-Pacific to deal with China.
The 2024 NDAA lists several Chinese power battery companies as being barred from bidding on Pentagon contracts.
The law also extends for 4 months Article 702 of the Foreign Intelligence Surveillance Act (FISA), which has caused a lot of controversy about the risk of abuse of power when spying on American people and will expire at the end of this year. , giving lawmakers more time to amend or agree to maintain the citizen surveillance program.
The bill also provides $300 million for the Ukraine Security Assistance Initiative over the next two years. However, this number is still too small compared to the $61 billion aid budget proposal sent to Congress by President Biden, which has not been approved.
NDAA is one of the legislative documents passed by the US Congress every year since the 1960s, representing the focus of defense policy and allocation of the Pentagon’s spending and equipment procurement budget.