what is in the 40 billion ukraine bill

And, you know, we've also got to get serious about protecting our border, which is truly in a total crisis on our southern border. The war has killed thousands of civilians, forced millions of Ukrainians from their homes and reduced cities to rubble. The Senate advanced a $40 billion Ukraine aid bill on Monday evening, despite opposition from a handful of Republican senators, in a vote tallying 81-11. The total is by far the biggest of all Western allies, with the UK in second giving $5.1 billion since the start of the invasion and the EU handing over $3.3billion. Some Republicans opposed the bill, criticizing Democrats for moving too quickly to send too many U.S. taxpayer dollars abroad. And House Minority Leader Kevin McCarthy (R-Calif.), who didnt participate in negotiations, pressed his colleagues to delay another round of funding to aid Ukraine, saying he wouldnt back a blank check.. Tennessee's two GOP senators were two of the 11 senators who voted May 16 against expediting a floor vote on President Joseph R. Biden Jr.'s $40 billion aid package to Ukraine, H.R. The bipartisan measure, backed by President Joe Biden, underscores U.S. determination to reinforce its support for Ukraine's outnumbered forces. Kentucky Republican Sen. Rand Paul defied leaders of both parties Thursday and delayed until next week Senate approval of an additional $40 billion to help Ukraine and its allies withstand Russia's three-month old invasion. If the defense of Ukraine is really in our national security interest, shouldnt their gift come from our military budget?". The staggering sum of U.S. aid to Ukraine is far greater than any other nation. Mr. Biden asked Congress for $33 billion two weeks ago. A confirmation vote from the full Senate will come later this week. A Ukrainian squad launches one of four rockets at a Russian infantry position from their BM-21 Grad 122mm multiple rocket launcher, in the southern Donbas region, Ukraine, on 20 February, REPUBLICAN OVERSIGHT WHILE STILL SUPPORTING UKRAINE. Market data provided by Factset. Workers at Ford Motor factories in Michigan and Indiana worked a full week just three times last year because of a chips shortage, Ms. Raimondo said in a speech at Georgetown University last week. 109 Bradley infantry fighting vehicles,75,000 sets of body armor and helmets, 38 High Mobility Artillery Rocket systems, and4,000 Zuni aircraft rockets have also been sent over. ), who earlier this month called for the U.S. to prioritize sending arms to defend itself against China over helping Ukraine beat back Russia. Play it now! With these decisions ahead, it is worth reviewing how much aid there has been, what that . The largest portion of the money $39 billion will go to fund the construction of new and expanded manufacturing facilities. The U.S. House passed legislation Tuesday night that would provide $40 billion in new aid to Ukraine as the Biden administration looks to step up U.S. support for Kyiv in its war against. There will be significant Republican support, he said. "It's clear from the junior senator from Kentucky's remarks, he doesn't want to aid Ukraine," said Senate Majority Leader Chuck Schumer, Democrat of New York. MarketWatch provides the latest stock market, financial and business news. War in Ukraine Russian combat capabilities Europe Congress set to approve an additional $40 billion in aid to Ukraine House backed the proposal Tuesday night on a bipartisan vote, with the. Chip shortages during the pandemic forced factories to halt work and brought home in a tangible way how vulnerable the supply chain is to disruption. 'Time is not on our side the longer the war lasts, the harder it will be for Western allies to stay united, and the more likely the Chinese Communist Party will be emboldened by an inconclusive stalemate to launch its own war of aggression against Taiwan.'. I think $40 billion would be about three times as much as Europe has contributed combined, all of the European states, for a war that's happening on their continent," the senator stated, saying he's worried it will continue allowing Europe to "freeload.". Even so, Paul's objection was a departure from the overwhelming sentiment in Congress in favor of quickly helping Ukraine, as it fights to withstand Vladimir Putin's brutal invasion and tries to discourage him from escalating the war. Bidens fellow Democrats narrowly control Congress, but the bill will need Republican votes to get through the Senate. Paul, who unsuccessfully sought his party's 2016 presidential nomination, argued that the added spending was more than the U.S. spends on many domestic programs, was comparable to Russia's entire defense budget and would deepen federal deficits and worsen inflation. You've successfully subscribed to this newsletter! The House passed a nearly $40 billion package for Ukraine late Tuesday, sending the bill to the Senate as lawmakers heed President Joe Biden's warning that U.S. cash to help the allied country . While the United States is still a leader in designing chips, most manufacturing has been sent offshore. Thank you for all our help. The same day, the U.S. House of Representatives approved more than $40 billion in military and humanitarian aid for Ukraine. "And they need this help right now.". The legislation has been approved overwhelmingly by the House and has strong bipartisan support in the Senate. The Commerce Department says the program will also provide the Department of Defense and the national security community with a domestic source of the worlds most advanced chips. THE $46 BILLION IN AID ON DRONES, TANKS AND MILITARY HARDWARE. Democrats keen on Ukraine aid, but refuse to help struggling Americans, Biden vows to ban assault weapons 'come hell or high water', Biden slammed for laughing while discussing mom who lost two children to fentanyl: 'Shameful', Lori Lightfoot's critics sound off on Chicago mayor losing re-election: 'Crime doesnt pay', President Biden, first lady's restaurant order sparks strong reactions. The House voted 368-57 on Tuesday to approve the measure. This material may not be published, broadcast, rewritten, or redistributed. 'America cant afford to keep on writing checks. 2022 CBS Interactive Inc. All Rights Reserved. Stories from Ukraine Biden's approval rating has hit a new low Paul pointed out that if the Senate approves the spending, the U.S. will have authorized $60 billion in total spending for Ukraine. Congressional Democrats are reportedly moving to hold a House vote as soon as Tuesday on a nearly $40 billion aid package for Ukraine that would delink assistance to the war-torn nation from. (1) Nothing in this section shall be interpreted to: (A) preclude an individual described in subsection (a) from applying for or receiving any immigration benefits to which such individual is otherwise eligible; or (B) entitle a person described in subsection (a) to lawful permanent resident status. Republicans want separate COVID-19 legislation to be a battleground for an election-season fight over immigration that divides Democrats. It didn't take lawmakers long to add $3.4 billion to his requests for both military and humanitarian programs. We could have already started using the new U.S. assistance package to more effectively save lives of Ukrainians who defend the democratic world. "I would say that we agree oversight is critical," Psaki replied. WATCH: The US Senate voted on Monday to advance the $40 billion Ukraine aid bill. Some will go to makers of older chips that are still essential for cars, appliances and weapons, as well as suppliers of raw materials for the industry and companies that package the chips into their final products. . Commerce officials have declined to speculate where these facilities might be, saying they must review applications. White House press secretary Jen Psaki was asked by CBS News' Ed O'Keefe about Paul's insistence on the inclusion of an inspector general and whether the Biden administration would establish some kind of watchdog entity to track the spending. The . "To do that, we've got to get in the right posture in the Indo-Pacific, which we're not currently. The bill also includes a pay raise for American troops and civilian federal employees. Sen. Josh Hawley (R-MO) speaks during a Senate Judiciary Committee business meeting to vote on Supreme Court nominee Judge Ketanji Brown Jackson on Capitol Hill, April 4, 2022 in Washington, DC. The United States would provide support in the form of the $13 billion Marshall Plan - which was worth $160 billion in today's money - and the Truman Doctrine. Get stock market quotes, personal finance advice, company news and more. "No matter how sympathetic the cause, my oath of office is to the national security of the United States of America," Paul said. 'The Americans are setting the pace in supporting Ukraine,'Christoph Trebesch, the head of the Ukraine Support Tracker team at the Kiel Institute said. The U.S. President pledged another $500 million aid and signalled financial support would continue for a war that has no end in sight, The last time the United States gave a Europe such substantial financial backing, President Harry Truman was trying to rebuild a continent ravaged by the Second World War. The Senate voted 86 to 11 to pass a $40 billion Ukraine aid package Thursday in the latest bipartisan signal of Washington's deepening commitment to Ukraine's grinding war against Russia. It also reflects strategic concerns about letting Putin seize European territory unanswered as his assault on his neighbor to the west grinds into its 12th week. Heres a look at the CHIPS and Science Act, what it aims to do and how it will work. Paul was likely to lose that vote and rejected the offer. All rights reserved. But the Biden administration has been hesitant to provide more firepower fearing Putin would see it as a sign of escalation. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. Published May 23, 2022 Congress has approved $40 billion in aid for Ukraine and other countries affected by the conflictthe sixth aid package since the war began. ', HOW AMERICANS ARE BEGINNING TO QUESTION THE AID BEING SENT TO UKRAINE - AND HOW SUPPORT FOR CONTINUED FUNDS IS DWINDLING, Biden announced $500 million more in assistance during his secret trip to Kyiv on Monday, and has shown no signs of stopping the money flowing until Ukraine achieves. Senate Minority Leader Mitch McConnell, R-Ky., meets President Zelenskyy in Ukraine. Couldnt Congress simply shift over the $40 billion and not add it to the debt? Companies can also apply for a tax credit reimbursing them for 25 percent of project construction. These four House Republicans broke with the GOP to oppose inflation estimates McCarthy, GOP pump brakes on release of Jan. 6 footage to Tucker Carlson. Hawley told Fox News Digital Tuesday during an exclusive interview that the reason why he voted "no" to advance the aid package is due to the fact that it will harm the United States' standing domestically as well as on the world stage and doesn't represent a "nationalist" foreign policy view. Schumer and McConnell stood nearly side-by-side as they tried pushing the legislation forward. Legal Statement. 'Before Congress even discusses the possibility of additional aid, the public must get answers to a number of important questions. House passes $40 billion Ukraine aid bill By Clare Foran, Annie Grayer and Ellie Kaufman, CNN 5/11/2022 The Democratic-led House of Representatives voted 368-57 on Tuesday evening to pass a. The Commerce Department has $50 billion to hand out in the form of direct funding, federal loans and loan guarantees. "My biggest concern is that I don't think this represents a nationalist foreign policy. 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All Democrats and most Republicans backed it, though every "no" vote came from the GOP. One 2020 study, for example, found that a $50 billion investment in the industry would increase U.S. market share only to 14 percent. Last May, Congress passed setting a $11billon limit on equipment for Biden to use through the PDA. GOP investigators have said they will keep an eye on where the money is going, while a faction of the party has called for aid to be drastically reduced. The House passed a $39.8 billion bill on Tuesday night to support Ukraine in its fight against invading Russian forces. The big picture: The vote passed 368-57, hours after congressional leaders struck a deal on the aid which Axios' Alayna Treene notes is billions more than the $33 billion the White House initially requested. The CHIPS Act Is About More Than Chips: Here's What's in It. Republicans on the House Armed Services Committee have urged Biden to keep providing the lethal aid necessary for Ukraine to counter Putin's 'unprovoked' invasion. Biden had called on Congress to move quickly so he could sign the bill into law before existing defense aid for Ukraine runs out later in May. Musks TeslaMaster Plan Lacks Drive. Paul remained defiant prior toThursdays vote, tweeting: If Congress really believed giving Ukraine $40B was in our national interest, they could easily pay for it by taxing every income taxpayer $500. The measure now goes to. Critics have argued that the federal government may not be the best judge of winners and losers. If Biden is serious about avoiding a debt ceiling disaster, he needs to act like it and put away the taxpayers checkbook. The Commerce Department also said it would dole out funding over time as companies hit project milestones, and give preference to those that pledged to refrain from stock buybacks, which tend to enrich shareholders and corporate executives by increasing a companys share price. US House Passes $40 Billion Bill to Bolster Ukraine Against Russian Invasion. Ukraine is not asking us to fight this war, McConnell said. Powered and implemented by FactSet Digital Solutions. Kelly Laco is a politics editor for Fox News Digital. It was a very heartfelt and easy to understand message: Their people are dying; theyre running out of supplies and ammunition. And, you know, that is also a national security concern, given what we're seeing coming across the border in terms of crime and drugs. The US Senate passed a bill on Thursday providing $40 billion in military aid and economic support to Ukraine, sending it to President Joe Biden's desk after the House approved the package last week. Republican Senator Rob Portman, a member of the Senate Foreign Relations Committee and leader of the Senate Ukraine caucus, said he expected enough Republican backing for the bill to get it through the Senate. ", "What about taking the $40 billion from elsewhere in the budget? WASHINGTON (AP) The House emphatically approved a fresh $40 billion Ukraine aid package Tuesday as lawmakers beefed up President Joe Biden's initial request, signaling a magnified, bipartisan commitment to thwart Russian President Vladimir Putin's bloody three-month-old invasion. WASHINGTON The House on Tuesday passed a $40 billion military and humanitarian aid package for Ukraine 368-57 opting to provide Kyiv with $7 billion more than President Joe Biden initially sought in his supplemental request last month. The Biden administration and Congress has set aside a staggering $113 billion in American taxpayer funds for Ukraine in a conflict that has no end in sight. As a subscriber, you have 10 gift articles to give each month. This includes the $6 billion in direct security. In the spring, the new Congress will consider aid in the context of the administration's proposed FY 2024 budget. This material may not be published, broadcast, rewritten, , forced millions of Ukrainians who defend the democratic world stock market financial! Many U.S. taxpayer dollars abroad and most Republicans backed it, though every `` no '' vote came the. And losers battleground for an election-season fight over immigration that divides Democrats Here & # x27 ; s it... Facilities might be, saying they must review applications, the U.S. House of approved. And losers Ukraine is not asking us to fight this war, said. Billion from elsewhere in the Senate Senate voted on Monday to advance the $ 40 billion on! Billion Ukraine aid bill Indo-Pacific, which we 're not currently Republican votes get. 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