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. ", MCCONNELL MAKES SURPRISE TRIP TO MEET ZELENSKYY IN UKRAINE, Senate Minority Leader Mitch McConnell, R-Ky., meets President Zelenskyy in Ukraine. Mutual Fund and ETF data provided by Refinitiv Lipper. "Aid for Ukraine. Thanks for contacting us. Biden had asked for $5 billion. While some critics have questioned the wisdom of giving grants to a profitable industry, semiconductor executives argue that they have little incentive to invest in the United States, given the higher costs of workers and running a factory. House appropriators released a $39.8 billion Ukraine aid bill that directs half of its largesse to the Pentagon and U.S. arms makers. 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. Gina Raimondo, the secretary of commerce, describes the program as foremost a national security initiative. . This includes the $6 billion in direct security. 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Bryant Harris. That has prompted concerns about the supplys vulnerability, given Chinas aggression toward Taiwan and the potential for a military invasion of the island. 'The Americans are setting the pace in supporting Ukraine,'Christoph Trebesch, the head of the Ukraine Support Tracker team at the Kiel Institute said. 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. A confirmation vote from the full Senate will come later this week. 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. 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. Senate Minority Leader Mitch McConnell, R-Ky., traveled to Ukraine over the weekend and met with President Volodmyr Zelenskyy. 'That means providing long range missiles, more tanks, fighter jets, and air defense systems. And a Car. Anyone can read what you share. 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. A $40 billion Ukraine aid package passed the Senate on Tuesday with relative ease despite opposition from 11 Republicans. Other provisions will encourage companies, universities and other parties to offer more training for workers, both in advanced sciences and in skills like welding. The package includes $6 billion for security assistance, including training, equipment, weapons and support; $8.7 billion to replenish stocks of U.S. equipment sent to Ukraine, and $3.9 billion for European Command operations. The package that passed 86-11 will give Ukraine another round of military and humanitarian assistance as the war with Russia drags on. But lawmakers . MarketWatch provides the latest stock market, financial and business news. In a decision that may irk some companies, the department said projects receiving grants would be required to share a portion of any unanticipated profits with the federal government, to ensure that companies gave accurate financial projections and didnt exaggerate costs to get bigger awards. The US spends more on our military than the next 8 countries combined. 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. Already 40 percent of the members of the Glastuinbouw Nederland group are operating at a loss, due to excessive energy costs. "That's why the package already includes millions of dollars to support additional oversight measures, including additional funding for existing inspectors general and we encourage all senators to promptly pass the bill as it stands, we feel what's in there sufficient.". 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. All rights reserved. '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.'. Ukraine is not asking us to fight this war, McConnell 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. ', 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. Musks TeslaMaster Plan Lacks Drive. Orthodox Sister Evdokia looks at a crater left after Russian shelling near Slovyansk, Donetsk region, Ukraine, May 10, 2022. We've received your submission. The House of Representatives passed a new $40 billion aid package for Ukraine on Tuesday as it continues to battle a Russian invasion and all votes against the measure came from Republicans.. 1998 - 2023 Nexstar Media Inc. | All Rights Reserved. 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. / CBS/AP. 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. According to the Congressional Budget Office, more than half the funds will have been spent by the end of 2024 and three-quarters will have been used by the end of 2026. 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. The American package has so far included 8,500 Javelin anti-armor systems, aPatriot air defense battery,20 Mi-17 helicopters,31 Abrams tanks and700 Switchblade drones. Market data provided by Factset. The package delivers nearly $14 billion in emergency funding to help address the emerging humanitarian crisis in Ukraine and shore up the country's defense . The Senate overwhelmingly voted to move toward passage of $40 billion in aid to Ukraine, underscoring the broad Republican and Democratic support for the country as it defends itself against Russias invasion. As of March 2021, he had a net worth of US$8.6 billion, having donated more than $32 billion to the Open Society Foundations, of which $15 billion has already been distributed, representing 64% of his original fortune. 2023 FOX News Network, LLC. The bill passed 368 to 57. 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. The GOP believes accelerated financial packages - similar to those approved during the COVID pandemic - are open to mismanagement or abuse. 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? RT @ImMeme0: Just 4 days ago U.S. promised additional $10 Billion to Ukraine, yesterday Blinken pledged $444 Million to Yemen and today he is giving $50 Million to Central Asia. Get stock market quotes, personal finance advice, company news and more. We are no longer accepting comments on this article. 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 passed in September. $8.766 billion for the Economic Support Fund to respond to emergent needs in Ukraine, provide needed budget support to assist with Ukraine's continuity of government, and 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. 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 . 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. This bill provides $40.1 billion in FY2022 emergency supplemental appropriations for activities to respond to Russia's invasion of Ukraine. Tuesday morning on The Tennessee Star Report, host Leahy welcomed U.S. I mean, it seems to me to be part of this unfocused globalism that unfortunately many in my party have embraced in the last couple of decades," Hawley said. In addition, the legislation authorizes a further $11 billion in Presidential Drawdown Authority, which allows the president to authorize the transfer of articles and services from U.S. stocks without congressional approval in response to an emergency. 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. 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. 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 . It provides hundreds of millions of dollars to help refugees and fund efforts to seize the assets of oligarchs linked to Russian President Vladimir Putin, whose government has called the invasion of Ukraine a special military operation.. Biden administration officials have said they expect the latest aid measure to last through September. Paul pointed out that if the Senate approves the spending, the U.S. will have authorized $60 billion in total spending for Ukraine. 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. 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 measure now heads to the Senate, which is expected to act quickly. 'America cant afford to keep on writing checks. The program also includes some ambitious and unusual requirements aimed at benefiting the people who will staff semiconductor facilities. Another $2.47 billion would address humanitarian needs in the country, $13.37 billion would go to economic support for Kyiv and $2.4 billion would help resettle Ukrainian arrivals and refugees into the United States. 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. Last week, 57 Republicans voted against the Ukraine assistance bill in the House. The bulk of the manufacturing money is likely to go to a few companies that produce the worlds most advanced semiconductors including Taiwan Semiconductor Manufacturing Company, Samsung Electronics, Micron Technology and, perhaps in the future, Intel to help them build U.S. facilities. 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. Biden utilized the authority to send $9.2 billion - or roughly 84 percent - worth of supplies from the U.S. stockpiles. In the spring, the new Congress will consider aid in the context of the administration's proposed FY 2024 budget. 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. The Naftogaz of Ukraine national joint stock company expects UAH 40 billion losses in 2022. The staggering sum of U.S. aid to Ukraine is far greater than any other nation. "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 . That would deny Mr. Biden the chance past presidents have had to make an appointment to the post, they said. The bill now awaits a vote in the Senate, where it is widely expected to pass with . Democrats and McConnell opposed Paul's push and offered to have a vote on his language. Posted May 10, 2022 at 5:30pm. WASHINGTON The House emphatically approved a fresh $40 billion Ukraine aid package Tuesday as lawmakers beefed up President Joe Biden's initial request, signaling a . It was a very heartfelt and easy to understand message: Their people are dying; theyre running out of supplies and ammunition. But the Biden administration has been hesitant to provide more firepower fearing Putin would see it as a sign of escalation. A summary of the supplemental aid also noted that $9 billion will go to the Ukraine Security Assistance Initiative, which includes efforts to train, equip and provide intelligence support to Ukraines military. Mutual Fund and ETF data provided by Refinitiv Lipper. 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 Congressional Research Service has estimated that this latest Ukraine bill is $6 billion more than all defense spending by the U.S. on foreign aid and military assistance in 2019, which is another point of contention for the GOP lawmakers. To address humanitarian needs, the bill will include $900 million to bolster refugee assistance, including housing, trauma support, and English language instruction for Ukrainians fleeing the. ', Ukrainian servicemen of the 3rd Separate Tank Iron Brigde take part in an exercise in the Kharkiv area on 23 February 2023, the day before the one year mark since the war began, Russian President Vladimir Putin lays flowers at a memorial to the Hero Cities of the Great Patriotic War against Nazi Germany, by the Kremlin Wall on the Defender of the Fatherland Day in Moscow, Russia, February 23. Last year's budget deficit was almost $2.8 trillion but is likely headed downward, and the bill's spending is less than 0.2% of the size of the U.S. economy, suggesting its impact on inflation would be negligible. 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. 'We have seen bipartisan support when it comes to Ukraine aid,' Jean Pierre said and pointed out that Republicans have also visited the war-torn country since the invasion. Legal Statement. 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. The US House on Tuesday night approved a more than $40 billion emergency Ukraine spending bill that pays for new weapons and provides economic and humanitarian assistance. 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 . 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. 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