Bush Signs $355B Defense Bill

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Last updated at: (Beijing Time) Thursday, October 24, 2002

Bush Signs $355B Defense Bill

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US President Bush signed into law Wednesday the biggest military spending increase since Ronald Reagan's administration -- a $355.5 billion package giving the wartime Pentagon "every resource, every weapon and every tool they need."

Overwhelmingly approved by Congress, the measure contains a 4.1% salary increase for military personnel, $7.4 billion to keep developing a ballistic missile defense system and $72 billion for new weapons.

With the president contemplating war against Iraq, and U.S. troops involved in an anti-terror campaign across the globe, the law increases Pentagon spending in almost every area for the budget year that began Oct. 1 by a total of more than $34 billion, or 11%, over the previous year. It was the biggest increase in 20 years.

He also signed a $10.5 billion bill financing the building and upgrading of military installations in fiscal 2003.

While Congress gave Bush most of what he requested, lawmakers rejected his plea for a $10 billion fund he could tap without congressional input for combating terrorists overseas.

There was a tinge of politics in the bill signing less than two weeks before elections that will decide which party controls Congress.

Source: Agencies

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