Authorization.—

Sec. 504. Authorization.— (a) There is hereby authorized to be appropriated to the President for use beginning in the fiscal years 1962 and 1963 to carry out the purposes of this part, not to exceed $1,700,000,000 for each such fiscal year, which sums shall remain available until expended. (b) In order to make sure that a dollar spent on military assistance to foreign countries is as necessary as a dollar spent for the United States military establishment, the President shall establish procedures for programing and budgeting so that programs of military assistance come into direct competition tor financial support with other activities and programs of the Department of Defense.