Over the weekend, Senate Majority Leader Chuck Schumer (D-NY) and Speaker Mike Johnson (R-LA) reached an agreement on FY24 topline spending which includes $886 billion in defense spending (3% increase over FY23) and $773 billion for discretionary funding (roughly the same as FY23).
There are two tight deadlines approaching: four of the twelve appropriations bills are funded through January 19 and the other eight are funded through February 2. There has been reports that Speaker Johnson could potentially agree to a short-term continuing resolution (CR) through March 1st so that the FY24 bills can be finalized. There is still a lot to be done, including writing the FY24 bills and working through disagreements on supplemental funding and other policy riders.
Read more about this here and here.