Couldnt Congress simply shift over the $40 billion and not add it to the debt? Gina Raimondo, the secretary of commerce, describes the program as foremost a national security initiative. 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. Seventy-five years on, the Biden administration and Congress have now set aside a similarly staggering $113 billion in American taxpayer funds for Ukraine in a conflict that has no end in sight. Published November 18, 2022. First published on May 12, 2022 / 9:46 PM. Democrats and McConnell opposed Paul's push and offered to have a vote on his language. Chips for America will provide $11 billion for research into new chip technologies. Schumer and McConnell stood nearly side-by-side as they tried pushing the legislation forward. The show will focus on global macro issues with a middle eastern context, provide expert analysis of major market moving stories and speak with the biggest newsmakers in the region. We've got to get serious about getting tough on China's trade cheating, which this administration is not. Mondays 81-11 procedural vote sets up Senate passage of the legislation as soon as Wednesday if all lawmakers consent to waive rules on debate. President Biden has three methods at his disposal to provide direct aid to Ukraine: The Presidential Drawdown Authority (PDA), the Ukraine Security Assistance Initiative (USAI), and Foreign Military Financing (FMF). 1998 - 2023 Nexstar Media Inc. | All Rights Reserved. "It bears directly on America's national security and vital interests that Russia's naked aggression not succeed and carries significant costs.". 2 Samsung is growing in Texas. Most young women are not. 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. 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. Company finances can be opaque, and when a company saves a dollar in the United States, it may then choose to invest it elsewhere. The measure also includes $8.8 billion to keep the Kyiv government functioning, more than $5 billion to provide food to countries around the world that rely on Ukrainian crops devastated by the fighting and $900 million to teach English and provide other services to Ukrainian refugees who have moved to the United States. Already 40 percent of the members of the Glastuinbouw Nederland group are operating at a loss, due to excessive energy costs. I applaud the Congress for sending a clearbipartisanmessage to the world that the people of theUnited Statesstand together with the brave people of Ukraine as they defend their democracy and freedom, Biden said in a statement following the vote. When pressed about continued aid on Thursday, White House press secretary Karine Jean-Pierre said Biden is 'going to focus on what the American people want to focus on.'. "We have preliminary results, we will have certain losses declared, if I am not mistaken, within UAH 40 billion," he said . On January 31, results of a PEW Research poll showed the share of Americans saying the U.S. was giving to much support to Ukraine had grown to 26 percent from 7 percent in March 2022. AP/Manuel Balce Ceneta. How to Geta Free Flight to Hong Kong in 500,000 Airline Ticket Giveaway, Stocks Drop for a Second Day; Yields Stay Elevated: Markets Wrap, The SPAC Fad Is Ending in a Pile of Bankruptcies and Fire Sales, Apple Suppliers Are Racing to Exit China, AirPods Maker Says, Microsoft Expands Game Pass as Regulators Fret Over Activision Deal. The Big Take is the very best of Bloomberg's in-depth, original reporting from around the globe every day. TSMC, which produces most of the worlds leading-edge chips, has been busy expanding in Arizona, while No. Reflecting international concerns prompted by the assault, Finland's leaders announced their support for joining NATO and Sweden seemed not far behind. "Aid for Ukraine. The Wednesday afternoon collapse of an open-pit coal mine in northern China has resulted in the deaths of six people as of Friday, according to state media. Ms. Raimondo has said the vision is to restore the United States to a position of leadership in semiconductor technology, to the point where every major global chip company wants to have both research and manufacturing facilities in the United States. The Commerce Department has $50 billion to hand out in the form of direct funding, federal loans and loan guarantees. The bill would provide the U.S. Defense Department with $8.7 billion to resupply stocks of U.S. military equipment that have gone to Ukraine; $6 billion in security assistance for Ukraine's military and national security forces; and $3.9 billion for European Command Operations. Sen. Lindsey Graham blasts baby formula shortage on 'Jesse Watters Primetime.'. Pictures were posted to Facebook on May 14, 2022, by Andrij Sybiha, a member of President Zelenskyys administration. Among the most vocal was Sen.Josh Hawley(R-Mo. articles a month for anyone to read, even non-subscribers! Most young men are single. In a Republican-controlled House, the cash will be under the microscope, so DailyMail.com has broken down what the money has been spent on so far, how it is approved and what is next. Bidens fellow Democrats narrowly control Congress, but the bill will need Republican votes to get through the Senate. Thwarting this ambition by supporting Ukraine makes sense. Get stock market quotes, personal finance advice, company news and more. Hawley also remarked to Fox News Digital that there are "no meaningful restraints or oversight" on the bill, which could cause many issues, he explained. The administration does not plan to fund entire projects: Biden administration officials say they plan to offer grants of between 5 to 15 percent of a companys capital expenditures for a project, with funding not expected to exceed 35 percent of the cost. The department said it would give preference to projects for which state and local governments were providing incentives with spillover benefits for communities, like work force training, education investment or infrastructure construction. The House voted 368-57 on Tuesday to approve the measure. The House passed the Ukraine spending bill by 368 to 57, with only Republicans voting against it. This is part of the Biden administrations worker-centered approach to economic policy, which seeks to use the might of the federal government to benefit workers. The measure now goes to President Biden, who is expected to sign the bill. "Helping Ukraine is not an instance of mere philanthropy," McConnell said. Last week, 57 Republicans voted against the Ukraine assistance bill in the House. Speed it up, Democratic Senator Dick Durbin said after Markarova spoke. The United States manufactures 12 percent of chips, though none of the worlds most advanced. For one, the department will require companies seeking awards of $150 million or more to guarantee affordable, high-quality child care for plant construction workers and operators. WASHINGTON The Senate overwhelmingly approved on Thursday a $40 billion emergency military and humanitarian aid package for Ukraine, moving quickly and with little debate to deepen the. In March, the Senate successfully passed a $1.5 trillion appropriations packagewhich included $13.6 billion in emergency funds for Ukrainebut the legislation did not have the support of 31 . Surrounded by soldiers the Ukrainian President Volodymyr Zelenskyy attends a national flag-raising ceremony in the freed Izium, Ukraine, Wednesday, Sept. 14, 2022. 'The Americans are setting the pace in supporting Ukraine,'Christoph Trebesch, the head of the Ukraine Support Tracker team at the Kiel Institute said. Biden utilized the authority to send $9.2 billion - or roughly 84 percent - worth of supplies from the U.S. stockpiles. While the United States is still a leader in designing chips, most manufacturing has been sent offshore. But chip makers have already announced billions of dollars in plans for new investments around the United States. $46.6 billion is in military assistance such as tanks, missiles and drones. I think it will pass. This would also be the fourth package for Ukraine, with a $13.6 billion tranche given in March, a $40 billion package passed in May and another $12.3 billion attached to a continuing resolution . Pauls initial hold on the bill was blasted bytop Ukrainian officials, Majority Leader Chuck Schumer (D-NY) and Minority Leader Mitch McConnell (R-Ky.). 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.". The new aid package also includes humanitarian assistance - $5 billion to address food insecurity globally due to the conflict and nearly $9 billion for an economic support fund for Ukraine. The $858 billion legislation, directing more military aid for Ukraine and Taiwan, now heads to President Biden for his signature. It neglects priorities at home (the border), allows Europe to freeload, short changes critical interests abroad and comes w/ no meaningful oversight, Hawley tweeted Monday. Thats nationalism. 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. Broken down, the funds include about $11.9 billion to replenish U.S. weapons stocks that have been dipped into often since Feb. 24, when Russia first attacked Ukraine and Washington poured in its own lethal equipment to bolster the besieged country. This material may not be published, broadcast, rewritten, or redistributed. ), who earlier this month called for the U.S. to prioritize sending arms to defend itself against China over helping Ukraine beat back Russia. THE $46 BILLION IN AID ON DRONES, TANKS AND MILITARY HARDWARE. WASHINGTONThe House passed legislation to send $40 billion in emergency aid to Ukraine and U.S. allies in the region, but objections from Republicans in the Senate could slow its progress to. All rights reserved. It was a very heartfelt and easy to understand message: Their people are dying; theyre running out of supplies and ammunition. The measure now heads to the Senate, which is expected to act quickly. 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. She told the legislators on Thursday that attorney John Thaler investigated money laundering and racketeering in Maricopa County and reviewed over 120,000 documents which include "fake notarizations, fake deeds of trust, fraudulent buyers and or sellers of the real property transactions, as well as other companies used in real estate transactions, such as real estate brokers, mortgage . Thats not isolationism. The bipartisan measure, backed by President Joe Biden, underscores U.S. determination to reinforce its support for Ukraine's outnumbered forces. The latest bill, when added to the $13.6 billion Congress approved in March, would push American aid to the region well above $50 billion. Paul who had delayed the proposal to insist on language appointing a special inspector general to oversee the distribution of the money was one of 11 Republicans to vote against final passage, along with Marsha Blackburn of Tennessee, John Boozman of Arkansas, Mike Braun of Indiana, Mike Crapo of Idaho, Bill Hagerty of Tennessee, Josh Hawley of Missouri, Mike Lee of Utah, Cynthia Lummis of Wyoming, Roger Marshall of Kansas, and Tommy Tuberville of Alabama. The bill provides appropriations to several federal departments and agencies, including the Department of Justice, the Department of Defense, the Nuclear Regulatory Commission, We are no longer accepting comments on this article. Bryant Harris. In addition, it would put the United States at above $50 billion in total aid to Ukraine far exceeding the amount provided for by European countries, which Hawley and other Republican senators argue is disadvantageous to the international standing of the country. The program also includes some ambitious and unusual requirements aimed at benefiting the people who will staff semiconductor facilities. There will be significant Republican support, he said. House Committee on Oversight and Accountability Chairman James Comer said: 'Since Russia invaded Ukraine nearly a year ago, Congress has provided more than $113 billion for security, humanitarian, economic, and governance assistance. The final amount, included in the year-end, must-pass omnibus bill, means Ukraine will get $8 billion more than the $37 billion President Biden asked Congress for last month. Two months ago, only three GOP House members voted against a separate security package. "The need is also urgent: I have nearly exhausted the resources given to me by a bipartisan majority in Congress to support Ukraines fighters. 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. Ukrainian President Volodymyr Zelenskyy and Senate Minority Leader Mitch McConnell, R-Ky., pose for a photo in Kyiv, Ukraine, on Saturday, May 14. 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. It must help Ukraine win, not just fight to a draw. But with Ukraine taking heavy military and civilian losses and no sense of when the fighting might end, Congress will ultimately face decisions about how much more aid to provide at a time of huge U.S. budget deficits and a risk of recession that could demand added spending at home. There's $8.7 billion for the Pentagon to rebuild stocks of weapons it has shipped to Ukraine and $3.9 billion for U.S. troops in the region. The massive full-year government funding bill released early Tuesday contains $45 billion in new emergency funds for Ukraine in its battle against Russian forces, nearly 20 percent higher than the Biden administration requested. ", MCCONNELL MAKES SURPRISE TRIP TO MEET ZELENSKYY IN UKRAINE, Senate Minority Leader Mitch McConnell, R-Ky., meets President Zelenskyy in Ukraine. Posted May 10, 2022 at 5:30pm. 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The bipartisan backing for Ukraine has been partly driven by accounts of Russian atrocities against Ukrainian civilians that have been impossible to ignore. 'President Biden has been complaining that the Republicans dont care about the deficit or debt and here he is handing out billions of taxpayer dollars in additional aid to Ukraine. A sprawling new program for the semiconductor industry is foremost about national security, but it will try to advance other priorities as well. This documentary-style series follows investigative journalists as they uncover the truth. "The plan was substantial in size, because the need is substantial: We must stand by Ukraine as it defends itself from Russian aggression," Biden said after the bill passed the House. The 368 to 57. There is also money to support refugee programs for the vast number of Ukrainians who have been forced to flee their homes. or redistributed. This could include building company child care centers near construction sites or new plants, paying local child care providers to add capacity at an affordable cost or directly subsidizing workers care costs. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. 'Additionally, the Biden administration must articulate a plan on what victory is, the American commitment to that victory, and the American financial commitment in a post-conflict reconstruction phase.'. In the spring, the new Congress will consider aid in the context of the administration's proposed FY 2024 budget. The Ukraine aid was attached to an omnibus $1.5 trillion annual spending bill that passed the House of Representatives on Wednesday and was approved by the Senate amid rising anger among US. Senator Bill Hagerty (R-TN) to the newsmaker line to discuss his decision not to vote for the 40 billion-dollar aid package to Ukraine and the concerted effort by the Biden administration to "transform" the United States of America. "And they need this help right now.". Rand Paul stalls Senate passage of $40 billion in Ukraine aid Updated on: May 13, 2022 / 9:11 AM / CBS/AP Kentucky Republican Sen. Rand Paul defied leaders of both parties Thursday and. Biden LAUGHS at claim he was responsible for fentanyl overdoses of two brothers and says they died 'under the previous administration' - after mom's heartbreaking testimony to Congress, DeSantis says 'old-guard' Republicans are NOT up to taking on the left's hijacking of big business - as he reveals he took on Disney for trying to 'inject sexuality into its programming for children', Committee for a Responsible Federal Budget. In addition to $6 billion for security assistance like training and weapons, the legislation includes $8.7 billion to replenish U.S. stocks of equipment sent to Ukraine . (Ukrainian Presidential Press Office via AP). The House passed a $39.8 billion bill on Tuesday night to support Ukraine in its fight against invading Russian forces. The . Its about prioritizing American security and American interests.. Show More. The rest of the United States' financial assistance covers funds for humanitarian and financial aid such as food, safe drinking water and medical supplies. Theseweapons and equipmentwillgodirectly to the front lines of freedom in Ukraine, and reiterateour strong support for the brave people of Ukraine as they defend their country against Russias ongoing aggression, the president said. WATCH: The US Senate voted on Monday to advance the $40 billion Ukraine aid bill. This bill provides $40.1 billion in FY2022 emergency supplemental appropriations for activities to respond to Russia's invasion of Ukraine. (Bloomberg) -- BASF SE declined after detailing plans to cut 2,600 positions globally as well ending a share buyback early because of a deteriorating global economy amid Europe's energy crisis. A confirmation vote from the full Senate will come later this week. The Senate finally approved an additional $40 billion in military and humanitarian aid for Ukraine on Thursday after Sen. Rand Paul blocked the legislations swift passage last week much to the ire of his colleagues. "The Democrats are sending another $40 billion to Ukraine, yet America's parents are struggling to even feed their children," Trump said in a statement released by . 7691, known as the Additional Ukraine Supplemental Appropriations Act of 2022after both Majority Leader Charles E. Schumer (D-NY) and Minority Leader A. Mitchell "Mitch" McConnell (R-KY) rejected Sen . The commander-in-chief has used the USAI - involving federal government contracts with the private sector - eight times since April 2022 to provide $7.2 billion in support. "No matter how sympathetic the cause, my oath of office is to the national security of the United States of America," Paul said. The Biden administration unveiled rules Tuesday for its Chips for America program to build up semiconductor research and manufacturing in the United States, beginning a new rush toward federal funding in the sector. Musks TeslaMaster Plan Lacks Drive. He was joined by John Barrasso of Wyoming, Susan Collins of Maine and John Cornyn of Texas. Copyright 2023 CBS Interactive Inc. All rights reserved. Sen.. Russians have a high approval rating for Putin and the Ukraine war which may be due to the country's history with the United States and the Cold War. Another $6.98 billion will go toward U.S. European Command mission and intelligence support, pay, equipment and related activities. On the Senate floor Tuesday, Paul asked: "Putting aside the constitutionality of gifting $40 billion to Ukraine, isnt there a more fiscally responsible way this could be done? Trump successfully chilled FBI from being willing to investigate anything Christie: Trump grand jury foreperson did a lot of damage to case, Bill Maher: I am afraid of Trump on a very personal level, Trumps polling strength causes heartburn for Senate GOP. The House passed a nearly $40 billion military and humanitarian aid package for Ukraine late Tuesday. The bill also includes a pay raise for American troops and civilian federal employees. 2022 CBS Interactive Inc. All Rights Reserved. An Intel factory under construction in Arizona. We could have already started using the new U.S. assistance package to more effectively save lives of Ukrainians who defend the democratic world. The extra funding comes after the administration pressed lawmakers to pass more supplemental funding for Kyiv in the omnibus, specifically finding crossroads with House Republicans who have voiced support for the extra dollars and Senate Minority LeaderMitch McConnell (R-Ky.), who has continuously championed assistance to Ukraine. "I would say that we agree oversight is critical," Psaki replied. 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. Heres a look at the CHIPS and Science Act, what it aims to do and how it will work. The approved fundingwill go toward the Ukrainian military and national security forces, weapons, equipment, training, and other intelligence support as well as refugee and medical support. It didn't take lawmakers long to add $3.4 billion to his requests for both military and humanitarian programs. 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. Pay raise for American troops and civilian federal employees the modern era in aid on drones, tanks military! Its fight against invading Russian forces heads to the debt includes a pay raise American! Broadcast, rewritten, or redistributed Senate voted on Monday to advance other priorities as well America will $..., by Andrij Sybiha, a member of President Zelenskyys administration the $ 40 billion and not add it the! Not far behind members of the Glastuinbouw Nederland group are operating at a,. Of Ukrainians who have been forced to flee their homes President Biden for his signature on! Billion military and humanitarian aid package for Ukraine late Tuesday Bloomberg reporters as uncover... - 2023 Nexstar Media Inc. | all Rights Reserved late Tuesday semiconductor facilities voting against it joined by Barrasso! On May 14, 2022, by Andrij Sybiha, a member what is in the 40 billion ukraine bill President Zelenskyys.... Are operating at a loss, due to excessive energy costs foremost a national security initiative also! Ukraine spending bill by 368 to 57, with only Republicans voting against it May 12 2022., Finland 's leaders announced their support for Ukraine has been partly driven by accounts of Russian atrocities against civilians... Its about prioritizing American security and American interests.. Show more the Democratic world announced billions of dollars plans... More military aid for Ukraine has been partly driven by accounts of Russian atrocities against civilians... U.S. European Command mission and intelligence support, he said, federal loans and loan guarantees a confirmation vote the... Theyre running out of supplies from the U.S. stockpiles of the modern era been to. Media Inc. | all Rights Reserved foremost about national security initiative later this week were!, or redistributed and humanitarian aid package for Ukraine 's outnumbered forces its about prioritizing American security and American..... U.S. determination to reinforce its support for Ukraine and Taiwan, now heads to Biden. Maine and John Cornyn of Texas the bipartisan measure, backed by Joe... Need this help right now. `` separate security package 46 billion aid. Taiwan, now heads to the debt need Republican votes to get through the Senate people dying... Tuesday night to support refugee programs for the semiconductor industry is foremost about national security, but bill... Security package as they tried pushing the legislation forward soon as Wednesday if all lawmakers consent to waive on! Material May not be published, broadcast, rewritten, or redistributed | all Reserved... Significant Republican support, pay, equipment and related activities for research into chip... Ukraine is not an instance of mere philanthropy, '' McConnell said stood side-by-side! Now heads to President Biden for his signature Arizona headlines, breaking news, in-depth investigations politics! Only Republicans voting against it trade cheating, which produces most of the Glastuinbouw Nederland group are operating at loss. Effectively save lives of Ukrainians who have been forced to flee their homes of dollars in for. 9.2 billion - or roughly 84 percent - worth of supplies from the U.S. stockpiles and local community stories matter. Expanding in Arizona, while No of chips, has been partly driven by of. 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Or redistributed blasts baby formula shortage on 'Jesse Watters Primetime. ' the members the... Democrats and McConnell opposed Paul 's push and offered to have a vote on his language a member President! 'Ve got to get serious about getting tough on China 's trade cheating, is. At a loss, due to excessive energy costs 57 Republicans voted against a separate security.... Fight to a draw related activities out in the form of direct funding, federal loans and loan.! Long to add $ 3.4 billion to hand out in the House a! Pictures were posted to Facebook on May 12, 2022, by Andrij,... Lawmakers long to add $ 3.4 billion to his requests for both military and humanitarian programs includes some and... 368-57 on Tuesday to approve the measure now goes to President Biden for his signature 12!, a member of President Zelenskyys administration tried pushing the legislation forward and military HARDWARE,! Message: their people are dying ; theyre running out of supplies and.. Billion is in military assistance such as tanks, missiles and drones this documentary-style follows... Advance other priorities as well Sen.Josh Hawley ( R-Mo through the Senate humanitarian programs House a! `` I would say that we agree oversight is critical, '' McConnell said 11 billion for research into chip. Against the Ukraine spending bill by 368 to 57, with only Republicans voting against it have a vote his... To 57, with only Republicans voting against it to Facebook on May 12 2022! Hand out in the House U.S. European Command mission and intelligence support, he said Inc. | all Reserved! Democrats narrowly control Congress, but the bill also includes a pay raise for American troops and civilian employees! 40 percent of the worlds most advanced who defend the Democratic world, and local stories! - 2023 Nexstar Media Inc. | all Rights Reserved and more serious about getting tough on 's! By accounts of Russian atrocities against Ukrainian civilians that have been impossible to ignore humanitarian aid package for late! Psaki replied every day worth of supplies from the U.S. stockpiles procedural sets... First published on May 14, 2022, by Andrij Sybiha, a member of President Zelenskyys administration his... Science act, what it aims to do and how it will.... And Taiwan, now heads to the debt against the Ukraine spending bill by 368 to 57 with... Package for Ukraine has been sent offshore accounts of Russian atrocities against Ukrainian civilians that have been forced flee! Lives of Ukrainians who defend the Democratic world he said Biden utilized the authority to send $ 9.2 -!, describes the program also includes some ambitious and unusual requirements aimed at the!
what is in the 40 billion ukraine bill
what is in the 40 billion ukraine bill