U.S. President Donald Trump signed into law a number of bills providing nearly $1.4 trillion in government spending before midnight Dec. 20, allowing federal agencies to function through Sept. 30, 2020.
The measures include a $22 billion increase in defense spending to $738 billion in the fiscal year 2020, a 3.1% salary hike for soldiers and the establishment of a U.S. space force. The newly signed legislation also provides nearly $1.4 billion in direct funding for a wall along the U.S.-Mexico border and raises the age for purchasing tobacco to 21 from 18.
Additionally, Trump signed a bill scrapping the so-called Cadillac tax on high-cost healthcare plans that he said would have imposed a 40% tax on 1 in 5 employers in 2022, "ultimately placing severe financial burdens on employees."
The Committee for a Responsible Federal Budget previously said scrapping the Cadillac tax, along with other health-related tax repeals, could add $500 billion to federal debt over 10 years.