House Passes Republican Budget With Extra Military Spending

MarketWatch Pulse

The House of Representatives approved a Republican bill on Wednesday that calls for balancing the federal budget in 10 years. The budget blueprint for fiscal 2016 contains a proposed total of $619 billion in military spending, which would be $96 billion above spending caps set in current law. The House bill aims to cut $5.5 trillion in spending over 10 years, including about $2 trillion from repealing President Barack Obama's health-care law. The budget passed on a vote of 228 to 199 and will now be used in budget negotiations with the Senate.

Copyright © 2015 MarketWatch, Inc.

Continue Reading Below