The Congress has passed Fiscal 2024 Defense Spending Bill, which authorizes a pay raise for both service members and civilian defense employees, among other things.
The Republican-held House passed the $874.2 billion defense policy bill by 310-118 vote Thursday, a day after the Democratic-dominated Senate approved it by an overwhelming majority.
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Political News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.