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. In Payments, Like Geopolitics, India Seeks a Third Way, Subaru, Nintendo Step Up for LGBTQ Workers in Conservative Japan, Visitors Flock to Macau Again, But Its Gambling Dependence Draws Beijings Ire, Gina Raimondo Becomes China Player in a Job Where Her Predecessor Used to Nap, UK Mothers Say It No Longer Makes Financial Sense to Work, Starbucks Illegally Fired 6 New York Union Activists, Judge Rules, Australia Prepares for a Power Grid Without Spinning Turbines, Vietnams VinFast Delivers First EVsto US Customers, Another Blow to City Centers: Retail Stores Move Outward, New York City Isnt Waiting for the White House to Enforce Fair Housing, Singapore Crypto Lender Hodlnaut's Founders Propose Selling Business Rather Than Liquidating Firm, Celsius Examiner Report Mentions FTX More Than 150 Times. The . Market data provided by Factset. He has alsovoted againstoverwhelmingly bipartisan bills to send additional aid packages to Ukraine. 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. But they have also promised 'robust' oversight to protect American taxpayers while making sure weapons make an impact on the battlefield. "I would say that we agree oversight is critical," Psaki replied. Most Read from Bloomberg Apple Makes Major Progress on No-Prick Blood Glucose Tracking for Its Watch China's Cease-Fire Proposal for Ukraine Gets Quick Dismissal Russian Support for Putin's War in . Democrats said they were objecting to Paul's plan because it would expand the powers of an existing inspector general whose current purview is limited to Afghanistan. The same day, the U.S. House of Representatives approved more than $40 billion in military and humanitarian aid for Ukraine. US House Passes $40 Billion Bill to Bolster Ukraine Against Russian Invasion. We are no longer accepting comments on this article. Russia-Ukraine Conflict House passes $40 billion Ukraine package to provide military, humanitarian aid The House voted a day after President Joe Biden called on Congress to "immediately". 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). "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 . This documentary-style series follows investigative journalists as they uncover the truth. Published: 01:17 EST, 24 February 2023 | Updated: 16:27 EST, 24 February 2023. The House on Tuesday night passed a $40 billion military and humanitarian aid package for Ukraine in an overwhelming 368 to 57 vote, weeks after lawmakers overwhelmingly approved $13.6. washington The U.S. House of Representatives approved more than $40 billion more aid for Ukraine on Tuesday, as Congress races to keep military aid flowing and boost the government in Kyiv. Greg Nash/Pool via AP, File. T he Senate on Monday voted to limit debate on a nearly $40 billion Ukraine aid bill after it was initially blocked by Sen. Rand Paul (R-KY) last week, allowing the bill to move toward. He has a long history of demanding last-minute changes by holding up or threatening to delay bills on the brink of passage, including measures dealing with lynching, sanctioning Russia, preventing a federal shutdown, the defense budget, government surveillance and providing health care to the Sept. 11 attack first responders. Joe Biden had asked Congress to approve an additional $33bn in aid for Ukraine. 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 . The staggering sum of U.S. aid to Ukraine is far greater than any other nation. But the Biden administration has been hesitant to provide more firepower fearing Putin would see it as a sign of escalation. The huge support package - three times more than what the U.S. spent in Afghanistan in a year - is dominated by the $46.6 billion in military equipment and support. The U.S. House of Representatives approved more than $40 billion more aid for Ukraine on Tuesday, as Congress races to keep military aid flowing and boost the government in Kyiv as it grapples with the Russian invasion. "And they need this help right now.". Couldnt Congress simply shift over the $40 billion and not add it to the debt? 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. Heres a look at the CHIPS and Science Act, what it aims to do and how it will work. The bill includes $19.7 billion for the Defense Department, more than $3 billion above the level asked for by the Biden administration. 2023 FOX News Network, LLC. Why? A major change is that this package looks ahead months rather than weeks. 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. One 2020 study, for example, found that a $50 billion investment in the industry would increase U.S. market share only to 14 percent. This material may not be published, broadcast, rewritten, Bloomberg Daybreak Middle East. The push toward passage came as Russia continued blasting Ukrainian forces and cities in southern and eastern portions of the country. Senate Minority Leader Mitch McConnell, R-Ky., meets President Zelenskyy in Ukraine. 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. 1998 - 2023 Nexstar Media Inc. | All Rights Reserved. Market data provided by Factset. "My oath of office is to the U.S. Constitution, not to any foreign nation," Paul, who has been leading on this issue, tweeted Thursday after he single-handedly delayed a unanimous consent request to move the bill forward. Hawley also told Fox News Digital that he is concerned that the package distracts from "more pressing" priorities abroad and at home, including the threat from China. Paul was likely to lose that vote and rejected the offer. 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. It was a very heartfelt and easy to understand message: Their people are dying; theyre running out of supplies and ammunition. "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. Some Republicans opposed the bill, criticizing Democrats for moving too quickly to send too many U.S. taxpayer dollars abroad. 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. 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 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. "The need is also urgent: I have nearly exhausted the resources given to me by a bipartisan majority in Congress to support Ukraines fighters. 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 last time the United States gave Europe such substantial financial backing, President Harry Truman was trying to rebuild a continent ravaged by the Second World War. But Americans are starting to wonder where the money goes, how it is being spent, and if it the cost of the aid is worth it. 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. 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. A sprawling new program for the semiconductor industry is foremost about national security, but it will try to advance other priorities as well. Fox News' Marisa Schultz, Lawrence Richard and The Associated Press contributed to this report. This material may not be published, broadcast, rewritten, or redistributed. '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. $46.6 billion is in military assistance such as tanks, missiles and drones. Commerce officials have declined to speculate where these facilities might be, saying they must review applications. In the spring, the new Congress will consider aid in the context of the administration's proposed FY 2024 budget. 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. "All he will accomplish with his actions here today is to delay that aid, not to stop it.". The Democratic-led House of Representatives voted 368-57 on Tuesday evening to pass a roughly $40 billion bill to deliver aid to Ukraine as it continues to face Russia's brutal assault .. That has prompted concerns about the supplys vulnerability, given Chinas aggression toward Taiwan and the potential for a military invasion of the island. (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. WASHINGTON, May 10 (Reuters) - The U.S. House of Representatives approved more than $40 billion more aid for Ukraine on Tuesday, as Congress races to keep military aid flowing and boost the. Former acting Under Secretary of State for Civilian Security, Democracy, and Human Rights Nathan Sales told DailyMail.com: 'The Biden administration needs to do more. 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 US spends more on our military than the next 8 countries combined. My guess is they choose to borrow the $ bc Americans might just decide they need the$500 more to pay for gas., Spending $40 billion on Ukraine aid more than three times what all of Europe has spent combined is not in Americas interests. 'Giving $113 billion in aid to Ukraine without meaningful oversight is a recipe for fiscal disaster,' Taxpayers Protection Alliance David Williams also told DailyMail.com. The CHIPS Act Is About More Than Chips: Heres Whats in It, https://www.nytimes.com/2023/02/28/business/economy/chips-act-childcare.html. Moscow has little to show for it beyond a strip of territory in the south and marginal gains in the east. This involves delivering supplies from the U.S. military's own arsenal. Ukraine. The 368 to 57. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. 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. Comer and his Republican colleagues highlighted how pandemic programs - which were approved quickly - later fell victims to fraud and abuse. 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.'. He was joined by John Barrasso of Wyoming, Susan Collins of Maine and John Cornyn of Texas. Delta agrees 34% pay rise for pilots - worth up to $90k - with other major airlines set to follow suit, Parole is DENIED for Robert F. Kennedy's assassin Sirhan Sirhan, 78, as prisoner still won't reveal reason for the 1968 murder of the senator and then-presidential candidate, Plastic surgeon reveals the one exercise that makes you AGE FASTER - saying he tells his patients to stop the popular workout if they want to avoid a 'gaunt, old face', 'He played Muhammad Ali, I played Pookie! The bill on the first anniversary of Vladimir Putin's invasion confirms the U.S. is by far the world's biggest contributor to Volodymyr Zelensky's war effort - followed by the UK and European Union - and the White House has signaled support will continue. 'This is shown, for example, by the vast amount of funds that EU governments mobilized to cushion the energy price shock at home. The Commerce Department said it would look closely at companies that applied for funding, to try to ensure that they were not being given more taxpayer dollars than they needed. 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. Forbes called him the "most generous giver" (in terms of . It dwarfs the nearly $14 billion in emergency funding Congress approved in March and is even larger than the $33 billion emergency request Biden sent lawmakers last month. "My biggest concern is that I don't think this represents a nationalist foreign policy. 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.. 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. We've got to get serious about getting tough on China's trade cheating, which this administration is not. 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. @POTUS, @SecBlinken, @SenateGOP, @SenateDems and American people were in strong support, and @RandPaul delayed so much needed support,Dymtro Kuleba, Ukraines minister of foreign affairs,wroteon Twitter at the time. Another $6.98 billion will go toward U.S. European Command mission and intelligence support, pay, equipment and related activities. Pauls initial hold on the bill was blasted bytop Ukrainian officials, Majority Leader Chuck Schumer (D-NY) and Minority Leader Mitch McConnell (R-Ky.). The Naftogaz of Ukraine national joint stock company expects UAH 40 billion losses in 2022. That would send it to President Joe Biden for his signature if no changes are made. 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