President Donald Trump has signed a bill that would authorize approximately $700 billion in Defense Department spending for fiscal year 2018, Defense News reported Tuesday.
The National Defense Authorization Act for fiscal 2018 includes approximately $66 billion in funds forÂ overseas contingency operations and a 2.4 percent pay increase for military personnel.
The defense spending measure would authorize 20,000 additional troops across the service branches and updates to missile defense systems.
âCongress must follow this authorization with a matching appropriation bill if we are to really rebuild our military,âÂ House Armed Services Committee Chairman Mac Thornberry (R-Texas) said Tuesday after the signing ceremony at the White House.
DoD News also reported the FY 2018 NDAA would allocate $626 billion for DoDâs base budget and appropriate funds for the U.S. Army and the U.S. Marine Corps to upgrade their ground combat vehicles.
The law also authorizes funds to support the campaign against the Islamic State militant organization and facilitate the procurement of Virginia-class submarines and fighter jets, the report added.
Trump on Friday approved a two-week continuing resolution to avert a government shutdown and allow lawmakers to finalize the fiscal 2018 appropriations bill through Dec. 22.