The House just did something that's becoming increasingly rare: it passed a massive spending bill with almost no room to spare. On Wednesday, lawmakers approved the nearly $1.15 trillion National Defense Authorization Act (NDAA) by a vote of 216-212, sending it to the Senate. The bill funds everything from President Trump's Golden Dome missile defense system to new submarines, fighter jets, and pay raises for troops.

Let's talk about what's in this thing. The legislation allocates $56 billion for aircraft programs, including next-generation fighter jets, B-21 Raider bombers, P-8 maritime patrol aircraft, F-35 fighter jets, and Chinook and Black Hawk helicopters. That's a lot of metal in the sky. It also authorizes more than $60 billion to build and support a fourth Columbia-class ballistic missile submarine, two Virginia-class submarines, and two Arleigh Burke-class destroyers. So, plenty of metal in the sea too.

One interesting twist: Rep. Andy Biggs got an amendment through that would cut the Pentagon's budget by 0.5% if any part of the Defense Department fails an audit. The savings would go toward reducing the federal deficit. It's a small but symbolic push for accountability in an agency that has never passed a full audit.

The vote was notably bipartisan in a narrow way: six Democrats supported it, while seven Republicans opposed it. The bill now heads to the Senate, where it's been paired with the SAVE Act.

War Funding Under Fire

All this spending comes as the Pentagon's estimated cost of the U.S.-Israel war against Iran has climbed to $37.5 billion, up from $29 billion in May. Defense Secretary Pete Hegseth recently defended a request for nearly $70 billion in supplemental war funding before the Senate, calling it an urgent investment to cover operations through September. Without it, he warned, the military would face critical shortfalls.

Sen. Rand Paul (R-Ky.) wasn't buying it. He slammed Hegseth's demand as "completely and utterly fiscally irresponsible" in an interview on Tuesday. Paul argued that America's growing national debt poses a greater threat than Iran, warning that currency devaluation is a bigger national security risk. He also criticized the conflict with Iran as unconstitutional, saying Congress never authorized the war as required by the Constitution.

For investors, this defense package signals a multi-year revenue opportunity for major contractors. The sustained pipeline of spending could benefit companies like Lockheed Martin Corp (LMT), RTX Corp (RTX), The Boeing Co (BA), and Northrop Grumman Corp (NOC).

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