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Military pay increase means big economic impact for area

A 3.4 percent pay increase expected to go into effect Jan. 1 will mean about $94 million in the pockets of Fort Hood area service members.

That number is based on the current payroll at Fort Hood, about $2.4 billion annually.

Fort Hood is home to about 50,000 military personnel.

President Obama is expected to sign the bill, approved by the Senate and the House, even though the president has threatened to veto the bill because it includes money for further development of a next-generation fighter for the Air Force.

The bill kills the F-22 fighter program.

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