Reuters - US Market News

U.S. Congress to consider new version of sweeping defense policy bill

Nov 3 The U.S. House and Senate Armed Services Committees said on Tuesday a version of the sweeping National Defense Authorization Act (NDAA) defense policy bill would go before Congress this week, with $ 5 billion of cuts reflecting the budget deal.

The adjustments affect more than 100 programs, the committee’s Republican and Democratic leaders said.

President Barack Obama vetoed the NDAA because of the way it used war funds to let the Department of Defense avoid mandatory spending cuts. The budget deal Obama signed into law on Monday addressed those concerns. (Reporting by Patricia Zengerle; Editing by Sandra Maler)

Reuters: Market News

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