Sign in to comment!

Menu
Home

MILITARY

Defying Pentagon, House pushes to finish $601 billion defense bill that spares favored weapons

The House is bucking the Pentagon and pressing ahead with a $601 billion defense authorization bill that spares planes, ships and military bases in an election-year nod to hometown interests.

Republicans and Democrats are expected to vote overwhelmingly Thursday for the sweeping policy bill. The White House has threatened a veto, complaining that lawmakers put parochial interests ahead of modernizing and training the military to fight.

Defense spending is being cut after more than a decade of fighting in Iraq and Afghanistan, and deficit-driven budget reductions take a toll.

The Pentagon proposed retiring decades-old aircraft programs, including the A-10 Warthog and the U-2 spy plane of the Cold War era.

Republicans and Democrats balked.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.84% up 3.80%  
15 Y Fixed Graph 2.95% up 2.90%  
30 Y Fixed Jumbo Graph 4.28% dw 4.32%  
5/1 ARM Graph 3.23% up 3.05%  
5/1 Jumbo ARM Graph 3.64% up 3.56%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.76% -- 4.76%  
$50K HELOC Graph 4.04% -- 4.04%  
$30K Loan Graph 4.99% -- 4.99%  
$50K Loan Graph 4.35% up 4.34%  
$75K Loan Graph 4.35% up 4.34%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.65% up 2.63%  
36 M Used Graph 3.17% up 3.13%  
48 M New Graph 2.93% up 2.91%  
48 M Used Graph 2.79% -- 2.79%  
60 M New Graph 3.04% up 3.02%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.40% -- 0.40%  
1 yr Graph 0.72% -- 0.72%  
5 yr Graph 1.45% up 1.44%