U.S. Markets close in 3 hrs 37 mins
  • S&P 500

    3,849.12
    -3.95 (-0.10%)
     
  • Dow 30

    31,093.43
    -82.58 (-0.26%)
     
  • Nasdaq

    13,527.18
    -3.73 (-0.03%)
     
  • Russell 2000

    2,137.34
    -4.08 (-0.19%)
     
  • Crude Oil

    52.54
    -0.59 (-1.11%)
     
  • Gold

    1,855.20
    -10.70 (-0.57%)
     
  • Silver

    25.55
    -0.30 (-1.18%)
     
  • EUR/USD

    1.2177
    +0.0004 (+0.0365%)
     
  • 10-Yr Bond

    1.0860
    -0.0230 (-2.07%)
     
  • Vix

    21.56
    +0.24 (+1.13%)
     
  • GBP/USD

    1.3678
    -0.0052 (-0.3803%)
     
  • USD/JPY

    103.7870
    +0.2820 (+0.2725%)
     
  • BTC-USD

    32,457.88
    +1,974.13 (+6.48%)
     
  • CMC Crypto 200

    645.55
    +35.56 (+5.83%)
     
  • FTSE 100

    6,695.07
    -20.35 (-0.30%)
     
  • Nikkei 225

    28,631.45
    -125.41 (-0.44%)
     

Trump Vetoes Defense Spending Bill; Congress To Vote Again

Tanzeel Akhtar
·1 min read

President Donald Trump vetoed the annual defense policy bill on Wednesday, which authorizes more than $740 billion in spending and outlines Pentagon policy, according to The Associated Press.

What Happened: Earlier this month, the National Defense Authorization Act was passed through both houses of Congress by veto-proof margins. This would mean that any veto by Trump is  likely to be overridden.

The NDAA bill authorizes appropriations and sets out the policies for the Department of Energy national security programs, including the National Nuclear Security Administration and the Defense Nuclear Facilities Safety Board.

Trump has tweeted his reasons for opposing the defense bill.

On Dec. 17, Trump tweeted: “I will Veto the Defense Bill, which will make China very unhappy. They love it. Must have Section 230 termination, protect our National Monuments and allow for removal of military from far away, and very unappreciative, lands. Thank you!”

What Next: The next step is for Congress to vote again and potentially override Trump. Lawmakers are expected to return from the holidays Dec. 28.

See more from Benzinga

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.