President Barack Obama signed on Dec. 26, 2013 two key pieces of legislation that detail the Defense Department’s budget for fiscal year 2014 and the federal government’s budget for fiscal years 2014 and 2015, detailed in a Reuters report.
Ros Krasny writes the signed defense authorization bill gives the Pentagon $526.8 billion in fiscal 2014, but the two-year budget compromise reached by congressional budget committee chairs Sen. Patty Murray and Rep. Paul Ryan allocates $498 million in Pentagon spending.
A final defense budget number will need to be reconciled early in the new year, Krasny reports.
Under the government-wide budget deal, spending will increase by $63 billion over sequester levels in fiscal years 2014 through 2015, Reuters reports.
Keep reading this article at: http://www.executivegov.com/2013/12/defense-2-year-budget-bills-paint-fy-2014-15-spending-picture/