WASHINGTON (AP) — A House panel approved a defense bill early Thursday that would delay President Obama’s new policy allowing gays to serve openly in the military and limit the commander in chief’s authority on slashing the nation’s nuclear arsenal.

By a vote of 60-1, the House Armed Services Committee approved the broad, $553 billion defense blueprint that would provide a 1.6 percent increase in military pay; fund an array of aircraft, ships and submarines; slightly increase health care fees for working-age retirees; and meet the Pentagon’s request for an additional $118 billion to fight wars in Iraq and Afghanistan.

The lone no vote was Rep. John Garamendi, California Democrat...