Trump Vetoes $740 Billion Defense Bill, Breaks with Republican-led Senate

Trump Vetoes $740 Billion Defense Bill, Breaks with Republican-led Senate

President Donald Trump on Wednesday vetoed a colossal defense bill that authorizes a topline of $740 billion in spending and outlines Pentagon policy, according to CNBC. Trump said the Act fails to include critical national security measures and contradicts his administration’s efforts to put America first in national security and foreign policy actions. 

  • The defense bill, which typically passes with strong bipartisan support and veto-proof majorities, funds America’s national security portfolio.
  • Congress must now vote again to override Trump as the House is slated for a return on Monday.
  • Senate Majority Leader Mitch McConnell said his chamber would vote on overriding the veto on Tuesday.
  • Earlier this month, both houses of Congress passed the National Defense Authorization Act through veto-proof margins, meaning that any veto by Trump would likely be overridden.
  • Legislators have accused Trump of using his final days in office to cause chaos after the defense bill veto.
  • Earlier this month, Trump threatened to veto the defense bill if lawmakers did not include a measure to eliminate Section 230
  • Trump also insisted that the defense-spending bill include language preventing the renaming of military bases commemorating Confederate-era figures.

U.S. stocks are currently mixed. SPY is up 0.39%, QQQ: NASDAQ is down 0.0032% on premarket.

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