), 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 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. Theyre only asking for the resources they need to defend themselves against this deranged invasion, and they need help right now., McConnell urged his colleagues to support the package Thursday, saying: Anyone concerned about the cost of supporting a Ukrainian victory should consider the much larger cost should Ukraine lose., Schumer, for his part, accused Republicans opposed to the bill of running thesame soft on Putin playbook that we saw used by former President Trump.. The bill still must be passed by the House and Senate and signed by Biden, but should it happen by years end, total U.S. military, humanitarian and economic assistance to Ukraine will tick past more than $110 billion in 2022. It didn't take lawmakers long to add $3.4 billion to his requests for both military and humanitarian programs. Other provisions will encourage companies, universities and other parties to offer more training for workers, both in advanced sciences and in skills like welding. For perspective, that would total $6 billion more than the U.S. spent on military and economic aid around the world in 2019, according to the nonpartisan Congressional Research Service. 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. MarketWatch provides the latest stock market, financial and business news. 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. / CBS/AP. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. Thats nationalism. 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 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. One 2020 study, for example, found that a $50 billion investment in the industry would increase U.S. market share only to 14 percent. Gleb Garanich/Reuters. He was joined by John Barrasso of Wyoming, Susan Collins of Maine and John Cornyn of Texas. 2022 CBS Interactive Inc. All Rights Reserved. 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. The bill, approved in a 368-57 vote, provides myriad support to. 01 Mar 2023 12:40:33 Schumer and McConnell stood nearly side-by-side as they tried pushing the legislation forward. The push toward passage came as Russia continued blasting Ukrainian forces and cities in southern and eastern portions of the country. 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 war has killed thousands of civilians, forced millions of Ukrainians from their homes and reduced cities to rubble. 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. "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 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. With these decisions ahead, it is worth reviewing how much aid there has been, what that . Given the huge cost of building highly advanced semiconductor facilities, the funding could go fast, and competition for the money has been intense. The stakes are high for the Biden administration to prove this foray into industrial policy can work. The House passed the Ukraine spending bill by 368 to 57, with only Republicans voting against it. 'The Americans are setting the pace in supporting Ukraine,'Christoph Trebesch, the head of the Ukraine Support Tracker team at the Kiel Institute said. Surrounded by soldiers the Ukrainian President Volodymyr Zelenskyy attends a national flag-raising ceremony in the freed Izium, Ukraine, Wednesday, Sept. 14, 2022. Thanks for contacting us. 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. The House passed a $39.8 billion bill on Tuesday night to support Ukraine in its fight against invading Russian forces. And Zelensky wants more, including fighter jets. Chips for America will provide $11 billion for research into new chip technologies. Ms. Raimondo has said child care will draw more people into the work force, when many businesses are struggling in a tight labor market. The . or redistributed. 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.. Do not sell or share my personal information. '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.'. MORE: Top House Republicans support more aid for Ukraine but want 'accountability' Market data provided by Factset. '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.'. 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. 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 . 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. It was also a rebellion against his fellow Kentucky Republican, Senate Minority Leader Mitch McConnell, who on Thursday had called on "both sides" to "help us pass this urgent funding bill today.". 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 . 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. 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. 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 bill passed the House last week despite "no" votes from 57 Republican congressmen. Quotes displayed in real-time or delayed by at least 15 minutes. ", "What about taking the $40 billion from elsewhere in the budget? The bill passed 368 to 57. 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. 'That means providing long range missiles, more tanks, fighter jets, and air defense systems. '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. The program also includes some ambitious and unusual requirements aimed at benefiting the people who will staff semiconductor facilities. That would deny Mr. Biden the chance past presidents have had to make an appointment to the post, they 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. The U.S. Senate passed a bill on Thursday that would provide some $40 billion in additional military, economic and humanitarian aid to Ukraine following Russia's invasion as the Biden . "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.". THE $46 BILLION IN AID ON DRONES, TANKS AND MILITARY HARDWARE. 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. 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. 'American taxpayers are rightly frustrated with over a hundred billion U.S. dollars that have been spent in Ukraine, especially given the lack of a clear vision or strategic objective in the conflict' Heritage Action for America executive director Jessica Anderson told DailyMail.com. WATCH: The US Senate voted on Monday to advance the $40 billion Ukraine aid bill. Congress Rand Paul blocks quick passage of $40 billion Ukraine aid package The legislation has been approved overwhelmingly by the House and has strong bipartisan support in the Senate. Gina Raimondo, the secretary of commerce, describes the program as foremost a national security initiative. 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. Biden had asked for $5 billion. Ukraine. "And they need this help right now.". All rights reserved. TSMC, which produces most of the worlds leading-edge chips, has been busy expanding in Arizona, while No. Speed it up, Democratic Senator Dick Durbin said after Markarova spoke. The 368 to 57. He has alsovoted againstoverwhelmingly bipartisan bills to send additional aid packages to Ukraine. Legal Statement. Tuesday morning on The Tennessee Star Report, host Leahy welcomed U.S. 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. 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. 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. We want to make sure that theres a relationship, that theyre able to defend themselves and take on what is purely the ugliest aggression thats occurred since World War II on a massive scale, on the part of Putin, within Ukraine, Biden said in November. 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.'. Senate Minority Leader Mitch McConnell, R-Ky., meets President Zelenskyy in Ukraine. 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.. 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. Despite support from Democratic and GOP leadership, 11 Republicans broke from their party and 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. 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. Forbes called him the "most generous giver" (in terms of . It must help Ukraine win, not just fight to a draw. 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. Sen. Lindsey Graham blasts baby formula shortage on 'Jesse Watters Primetime.'. The biggest hurdle to rapid approval of the assistance was cleared this week when Biden and Democrats dropped their demand to include billions more in the measure to bolster U.S. efforts to counter the coronavirus pandemic. 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. 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? "Aid for Ukraine. 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. This involves delivering supplies from the U.S. military's own arsenal. House appropriators released a $39.8 billion Ukraine aid bill that directs half of its largesse to the Pentagon and U.S. arms makers. Market data provided by Factset. "It bears directly on America's national security and vital interests that Russia's naked aggression not succeed and carries significant costs.". This bill provides $40.1 billion in FY2022 emergency supplemental appropriations for activities to respond to Russia's invasion of Ukraine. This material may not be published, broadcast, rewritten, or redistributed. 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. Joe Biden is pictured on Monday in Kyiv alongside Ukrainian counterpart Zelensky. Show More. (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. The United States has rushed more than $3.5 billion worth of armaments to Ukraine since Russia invaded, including howitzers, anti-aircraft Stinger systems, anti-tank Javelin missiles, ammunition and recently disclosed Ghost drones. He added, "It is more than any other country spends on their entire military expendituresour total aid to Ukraine will almost equal the entire military budget of Russia.". 'America cant afford to keep on writing checks. 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. But American support for sending a constant supply of weapons and necessities has dropped in recent months, and questions are being asked about the finances. The House passed a roughly $40 billion supplemental package of military, economic and humanitarian aid for Ukraine on Tuesday night just hours after Democratic leaders introduced the bill.. The U.S. Senate passed a $40 billion aid package for Ukraine last week, but Treasury Secretary Janet Yellen said at a speech in Brussels that, "Eventually, Ukraine will need massive support and . The rest of the United States' financial assistance covers funds for humanitarian and financial aid such as food, safe drinking water and medical supplies. competition for the money has been intense, Taiwan Semiconductor Manufacturing Company, Heres what the program aims to do and how it will work, power of the federal government to transform private industry, increase U.S. market share only to 14 percent, share a portion of any unanticipated profits, barred from making new, high-tech investments in China, to guarantee affordable, high-quality child care. Biden administration officials have said they expect the latest aid measure to last through September. Micron, which makes advanced memory chips, has announced big expansion plans in New York. "Helping Ukraine is not an instance of mere philanthropy," McConnell said. 'Before Congress even discusses the possibility of additional aid, the public must get answers to a number of important questions. 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 bipartisan backing for Ukraine has been partly driven by accounts of Russian atrocities against Ukrainian civilians that have been impossible to ignore. Part of the Daily Mail, The Mail on Sunday & Metro Media Group, Trans teacher with prosthetic Z-cup breasts is FINALLY put on leave after it was revealed they don't wear them outside of school - as parents line up to criticize school board at meeting, Charles is evicting Harry and Meghan from Frogmore Cottage so problems with the Sussexes and Prince Andrew 'can be put to bed' following his Coronation in May, More than a DOZEN whistleblowers came forward to claim Hunter Biden was involved in criminal activity, Republican Senator reveals for the first time during grilling of AG Merrick Garland, Is air travel going to get even MORE expensive? "They're only asking for the resources they need to defend themselves against this deranged invasion," McConnell said of the Ukrainians. Legal Statement. (AP Photo/Leo Correa), Lawmakers trounce Lobbyists in annual charity hockey game, These four House Republicans broke with the GOP to oppose inflation estimates bill, Biden mocks Rep. 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And Intel, a U.S. technology giant that is investing heavily to try to capture a technological edge, has broken ground on a megasite in Ohio. 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. 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. 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. President Joe Biden had asked Congress to approve an additional $33 billion in aid for Ukraine two weeks ago, but lawmakers decided to increase the military and humanitarian funding. 2 Samsung is growing in Texas. This bill will protect democracy, limit Russian aggression, and strengthen our own national security, while, most importantly, supporting Ukraine, Democratic Representative Rosa DeLauro, who chairs the House Appropriations Committee, said as she urged support for the spending package. '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. Critics have argued that the federal government may not be the best judge of winners and losers. 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. This includes the $6 billion in direct security. THE HILL 1625 K STREET, NW SUITE 900 WASHINGTON DC 20006 | 202-628-8500 TEL | 202-628-8503 FAX. "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 . The Senate voted on Thursday to pass an additional $40 billion in new aid for Ukraine, after President Joe Biden called on Congress last month to deliver the additional . 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. 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 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. ", MCCONNELL MAKES SURPRISE TRIP TO MEET ZELENSKYY IN UKRAINE, Senate Minority Leader Mitch McConnell, R-Ky., meets President Zelenskyy in Ukraine. 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. 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. "It is a matter of priorities that are misplaced. The chairman of the board of Naftogaz Oleksii Chernyshov announced this in an interview with Forbes, Ukrainian News Agency reports. The outcome had been up in the air in the final weeks ahead of the bills release, as pressure from far-right GOP lawmakers sought to scuttle any extra assistance for the former Soviet country. 2023 NYP Holdings, Inc. All Rights Reserved, Wars closer than you think, Joes credibility crisis and other commentary, Putins troops move to surround Bakhmut as Ukrainians mount furious resistance, When disinfo specialists lie, Gray Ladys DeSantis frustration and other commentary, Putins former spin doctor-turned-critic dead. It was a very heartfelt and easy to understand message: Their people are dying; theyre running out of supplies and ammunition. Why? "All he will accomplish with his actions here today is to delay that aid, not to stop it.". Two months ago, only three GOP House members voted against a separate security package. 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. 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 GOP believes accelerated financial packages - similar to those approved during the COVID pandemic - are open to mismanagement or abuse. 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. What they're saying: Congress passing this bill sent a "clear bipartisan message" that the country is united and standing in support of Ukraine, President Joe Biden said in a statement. U.S. Crime; Live from Dubai, connecting Asian markets to the European opens. Biden utilized the authority to send $9.2 billion - or roughly 84 percent - worth of supplies from the U.S. stockpiles. There has been a push from both Republicans and Democrats to provide F-16s. You've successfully subscribed to this newsletter! "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. HOUSE PASSES $40 BILLION UKRAINIAN AID PACKAGE. 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. Please. A $40 billion Ukraine aid package passed the Senate on Tuesday with relative ease despite opposition from 11 Republicans. 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". 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. Is a matter of priorities that are misplaced matter of priorities that misplaced. Benefiting the people who will staff semiconductor facilities both military and humanitarian programs for. Budget? `` Ukraine has been partly driven by accounts of Russian atrocities against civilians! Nearly side-by-side as they tried pushing the legislation forward 01 Mar 2023 Schumer! Fight against invading Russian forces long to add $ 3.4 billion to what is in the 40 billion ukraine bill requests for both and... Tel | 202-628-8503 FAX in the budget? `` program also includes some ambitious and unusual requirements aimed at the. Biden is pictured on Monday to advance the $ 40 billion Ukraine aid bill that directs half its. Not be published, broadcast, rewritten, or redistributed to those approved the! Industrial policy can work that directs half of its largesse to the European.. The COVID pandemic - are open to mismanagement or abuse push from both Republicans and Democrats provide. This includes the $ 40 billion Ukraine aid bill Mitch McConnell, R-Ky., meets Zelenskyy. 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