Biden, McCarthy Agree on $886 Billion Military Budget

The debt ceiling agreement reached between the White House and House Republicans that was announced Sunday caps military spending at $886 billion for 2024, matching President Biden’s requested budget.

Republicans negotiating the debt ceiling deal only sought non-military spending cuts. The $886 billion cap for military spending represents about a 3.3% increase from 2023.

The White House and House Speaker Kevin McCarthy (R-CA) still need to get the debt ceiling agreement passed through Congress. Many hawkish Republicans will likely oppose the deal as they previously blasted Biden’s massive $886 billion request as “inadequate.”