President Barack Obama has signed a bill that provides a broad outline for the federal budget through 2015 and eases some of sequestration’s cuts, the White House said Thursday.

The Bipartisan Budget Act restores a total of $63 billion in discretionary funding to the Defense Department and some domestic agencies in 2014 and 2015, but also includes $85 billion in deficit reduction. …

Savings in the bill come from a new airport security tax and from an increase in fees paid by companies that offer pensions that are guaranteed by the federal government.

Deficit reduction also comes from a controversial measure that would reduce cost-of-living increases for retired members of the military under age 62. …

Vacationing in Hawaii on Thursday, Obama also signed the 2014 National Defense Authorization Act.

Photo: Gingerbread White House. (The White House)

—Chad Blair