Military spending

House, Senate negotiators agree on $700 billion for military

House and Senate negotiators have agreed on an annual defense policy bill that authorizes $700 billion for the Pentagon in fiscal 2018.

That's an ample increase over the amount sought by President Donald Trump. It pays for more active-duty troops, aircraft and ships than he requested.

Details are scheduled to be made public later Wednesday, but congressional staff members say the bill allots just over $634 billion for core Pentagon operations and nearly $66 billion for wartime missions in Afghanistan, Iraq, Syria and elsewhere. The staff members spoke on condition of anonymity because they weren't authorized to speak on the record.

Trump's budget request sought $603 billion for basic functions and $65 billion for overseas missions.

The policy bill also grants U.S. troops a 2.4 percent pay raise.