United States service members could expect a 4.6% increase in salary if Congress approves the White House’s 2023 federal budget plan released on Monday.

The pay raise will serve as the largest increase in military personnel’s salary in almost two decades. It is part of the Biden administration’s $813.3 billion national defense budget proposal for the 2023 fiscal year, which includes $733 billion specifically for the Pentagon. This is reportedly a 4% increase in the overall annual defense budget compared to last year.

The massive defense funding proposal comes on the backdrop of Russia’s escalating aggression in Europe and the looming threat of China in the Pacific, which military and political analysts saw to be observing how the world would react to Russia’s invasion of Ukraine as Beijing deals with its own dispute with Taiwan.

“I’m calling for one of the largest investments in our national security in history, with the funds needed to ensure that our military remains the best-prepared, best-trained, best-equipped military in the world,” Biden said in a White House statement. “In addition, I’m calling for continued investment to forcefully respond to Putin’s aggression against Ukraine with US support for Ukraine’s economic, humanitarian, and security needs,” he added.