Senate passes two-year spending bill

The Senate today approved a two-year bipartisan spending bill by a 67-28 vote, setting the stage for a presidential signature.

The House passed the bill last week before going on summer recess.

The bill would set total defense spending at $738 billion for fiscal year 2020 and $740.5 billion for FY-21, essentially ending the decade-long caps imposed by the 2011 Budget Control Act.

The defense toplines include Overseas Contingency Operations spending. Under the deal, the OCO account would be $71.5 billion in FY-20 and $69 billion in FY-21.

The deal would also provide $632 billion in non-defense funding in FY-20, about $15 billion less than Democrats sought, but about 4% above non-defense spending in FY-19. Non-defense spending in FY-21 would total $634.5 billion under the deal.