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The House is expected to vote this week on a sweeping $900 billion military spending bill that boosts service member pay while implementing significant changes to Pentagon operations, including cuts to diversity programs and new requirements for transparency in anti-drug operations.
The National Defense Authorization Act (NDAA), traditionally a bipartisan effort outlining the nation’s defense priorities, comes amid intensifying scrutiny of Defense Secretary Pete Hegseth over controversial maritime strikes near Venezuela’s coast. The compromise bill, released Sunday by the House Armed Services Committee, reflects lawmakers’ concerns about the administration’s approach to several key defense issues.
While incorporating many of President Donald Trump’s executive orders, the legislation demands greater accountability regarding the administration’s campaign against Latin American drug cartels. It also reasserts American commitment to European allies following criticism of NATO partners in Trump’s recently released national security strategy.
Congressional oversight of military operations against alleged drug smugglers has intensified following a controversial September 2 incident. The bill requires the Pentagon to provide unedited video footage of strikes against suspected drug boats, with lawmakers threatening to withhold 25% of Hegseth’s travel budget if these materials aren’t delivered. The demand comes after reports that U.S. forces fired on two survivors who were clinging to wreckage after their boat was attacked.
The legislation also mandates that the Pentagon share the operational orders behind each attack. Legal experts and some Democratic lawmakers have argued the September follow-up strike violated international laws of war, despite the administration’s assertion that the U.S. is engaged in an armed conflict with drug cartels.
In a significant show of support for Ukraine, the bill authorizes $400 million annually for the next two years to manufacture weapons for Kyiv. Although this represents only a fraction of Ukraine’s defense needs in its fight against Russia, it signals Congressional backing at a time when Trump’s support for Ukraine has appeared uncertain. The legislation also requires the Pentagon to provide intelligence support for Ukraine, which the administration had temporarily paused earlier this year.
The NDAA takes steps to affirm America’s commitment to key allies by mandating minimum troop levels in strategic regions. It requires the Pentagon to maintain at least 76,000 troops and major equipment in Europe unless NATO allies are consulted and a determination is made that withdrawal serves U.S. interests. Currently, between 80,000 and 100,000 American troops are typically stationed across Europe.
This provision comes as European allies have expressed concern about potential troop reductions that could create a security vacuum amid growing Russian aggression. The Army announced in late October that a brigade combat team would return to the United States as planned, but no replacement forces would be rotated into Europe.
Similar requirements apply to the U.S. military presence in South Korea, with the bill setting a minimum requirement of 28,500 troops stationed there.
The legislation is notable for what it excludes—particularly coverage for in vitro fertilization (IVF) treatments for active-duty personnel. Rep. Sara Jacobs, a California Democrat, criticized House Speaker Mike Johnson for removing her provision that would have expanded military health insurance to cover the fertility treatment.
“It’s an unbelievably selfish and callous move against people who’ve served and sacrificed so much for us,” Jacobs said in a statement. Johnson’s office did not respond to requests for comment, though he praised the NDAA for delivering on “Trump’s promise of peace through strength” while highlighting its nearly 4% pay increase for service members.
The bill would formally end the Iraq War by repealing the 2003 invasion authorization. Supporters argue this repeal is crucial to prevent future abuses and to acknowledge that Iraq is now a strategic U.S. partner. The 2002 resolution, rarely used in recent years, was cited by the previous Trump administration as part of its legal justification for the 2020 drone strike that killed Iranian Gen. Qassim Soleimani.
Additionally, the legislation would permanently remove the harshest remaining U.S. sanctions on Syria. Congress had imposed these penalties in 2019 to punish former leader Bashar Assad for human rights abuses during the country’s civil war. Syrian President Ahmed al-Sharaa is now seeking economic rebuilding opportunities after leading the insurgency that removed Assad last year. While the Trump administration had issued temporary waivers on these sanctions, known as the Caesar Syria Civilian Protection Act, they can only be permanently repealed through Congressional action.
The bill also makes $1.6 billion in cuts to climate change-related military spending and eliminates approximately $40 million in diversity, equity, and inclusion initiatives—both reflecting the Trump administration’s priorities across federal agencies. These cuts will affect programs like hybrid electric ships and climate adaptation planning, despite military assessments that have long identified climate change as a national security threat.
The House could vote on the NDAA as early as Wednesday.
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28 Comments
Silver leverage is strong here; beta cuts both ways though.
Interesting update on What to know about the massive defense bill that seeks release of boat strike videos and more. Curious how the grades will trend next quarter.
Interesting update on What to know about the massive defense bill that seeks release of boat strike videos and more. Curious how the grades will trend next quarter.
Good point. Watching costs and grades closely.
Good point. Watching costs and grades closely.
Nice to see insider buying—usually a good signal in this space.
Good point. Watching costs and grades closely.
Interesting update on What to know about the massive defense bill that seeks release of boat strike videos and more. Curious how the grades will trend next quarter.
If AISC keeps dropping, this becomes investable for me.
Good point. Watching costs and grades closely.
Uranium names keep pushing higher—supply still tight into 2026.
Good point. Watching costs and grades closely.
Silver leverage is strong here; beta cuts both ways though.
Production mix shifting toward World might help margins if metals stay firm.
Good point. Watching costs and grades closely.
Good point. Watching costs and grades closely.
Nice to see insider buying—usually a good signal in this space.
Exploration results look promising, but permitting will be the key risk.
Good point. Watching costs and grades closely.
Silver leverage is strong here; beta cuts both ways though.
I like the balance sheet here—less leverage than peers.
Good point. Watching costs and grades closely.
Interesting update on What to know about the massive defense bill that seeks release of boat strike videos and more. Curious how the grades will trend next quarter.
Good point. Watching costs and grades closely.
Good point. Watching costs and grades closely.
The cost guidance is better than expected. If they deliver, the stock could rerate.
Good point. Watching costs and grades closely.
Good point. Watching costs and grades closely.