(Ukrainian Presidential Press Office via AP). 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. Gleb Garanich/Reuters. The measure now heads to the Senate, which is expected to act quickly. The bill passed the House last week despite "no" votes from 57 Republican congressmen. 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. "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. A Reuters/Ipsos poll conducted between February 6 and 13 found 58 percent of Americans approved of military support, compared to 73 percent in April 2022. Ukraine. For example, Biden has used the PDA 29 times since Russia invaded, according to the Committee for a Responsible Federal Budget. The bill, which includes military, economic and humanitarian assistance to. A $40 billion Ukraine aid package passed the Senate on Tuesday with relative ease despite opposition from 11 Republicans. Oksana Markarova, Ukraines ambassador to the United States, appealed for assistance to both Democratic and Republican senators at their weekly party lunches on Tuesday. Do not sell or share my personal information. Stories from Ukraine Biden's approval rating has hit a new low Get the latest updates from the 2024 campaign trail, exclusive interviews and more Fox News politics content. The package that passed 86-11 will give Ukraine another round of military and humanitarian assistance as the war with Russia drags on. Market data provided by Factset. The House passed the Ukraine spending bill by 368 to 57, with every no vote coming from Republicans. 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 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. A confirmation vote from the full Senate will come later this week. "They're only asking for the resources they need to defend themselves against this deranged invasion," McConnell said of the Ukrainians. '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.'. 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. 2022 CBS Interactive Inc. All Rights Reserved. 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 .. 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. An Intel factory under construction in Arizona. Republicans want separate COVID-19 legislation to be a battleground for an election-season fight over immigration that divides Democrats. 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. Last week, 57 Republicans voted against the Ukraine assistance bill in the House. Critics have argued that the federal government may not be the best judge of winners and losers. In addition, $300 million is meant for advanced nuclear reactors and advanced nuclear fuels to increase Ukrainian energy security and independence as Russia continues to hit its energy infrastructure with frequent missile barrages and drone strikes. 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. This involves delivering supplies from the U.S. military's own arsenal. 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 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. HOUSE PASSES $40 BILLION UKRAINIAN AID PACKAGE. Biden had asked for $5 billion. 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 lawmakers . 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. 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 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 bipartisan backing for Ukraine has been partly driven by accounts of Russian atrocities against Ukrainian civilians that have been impossible to ignore. 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 Associated Press contributed to this report. Powered and implemented by FactSet Digital Solutions. Mr. Biden asked Congress for $33 billion two weeks ago. Market data provided by Factset. (Andrij Sybiha/Facebook). The House passed the Ukraine spending bill by 368 to 57, with only Republicans voting against it. The bill includes $19.7 billion for the Defense Department, more than $3 billion above the level asked for by the Biden administration. 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The program also includes some ambitious and unusual requirements aimed at benefiting the people who will staff semiconductor facilities. Most young women are not. 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.. 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. 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.'. It must help Ukraine win, not just fight to a draw. Thats nationalism. 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 . 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. 'America cant afford to keep on writing checks. 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. ", MCCONNELL MAKES SURPRISE TRIP TO MEET ZELENSKYY IN UKRAINE, Senate Minority Leader Mitch McConnell, R-Ky., meets President Zelenskyy in Ukraine. 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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. (Podcast). "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 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. MarketWatch provides the latest stock market, financial and business news. 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. 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. ', 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. At the same time, China has increased its market share in less advanced chips that are still critical for cars, electronics and other products. Updated on: May 13, 2022 / 9:11 AM Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. But some critics say it could put the programs goal of building the most advanced semiconductor factories at risk, if it adds excessive costs to new projects. Schumer and McConnell stood nearly side-by-side as they tried pushing the legislation forward. That helped create a car shortage and raise the price of cars, stoking inflation. 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. "I'm concerned that it shortchanges priorities here at home. 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. 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. 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. Companies are also barred from making new, high-tech investments in China or other countries of concern for at least a decade, to try to ensure that taxpayer money does not go to fund new operations in China. 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. 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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. Get stock market quotes, personal finance advice, company news and more. 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.". Couldnt Congress simply shift over the $40 billion and not add it to the debt? 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. And Zelensky wants more, including fighter jets. 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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. We've got to get serious about getting tough on China's trade cheating, which this administration is not. Mutual Fund and ETF data provided by Refinitiv Lipper. 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. 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. 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. 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'When will politicians and bureaucrats learn that you just cant hand out money and expect it to go the right people and places? 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". The bill, passed on an 86-to-11 vote Thursday, provides a combined $20 billion in military aid that is expected to finance the transfer of advanced weapons systems, such as Patriot antiaircraft. Quotes displayed in real-time or delayed by at least 15 minutes. 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. Copyright 2023 CBS Interactive Inc. All rights reserved. '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. "No matter how sympathetic the cause, my oath of office is to the national security of the United States of America," Paul said. MORE: Top House Republicans support more aid for Ukraine but want 'accountability' 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. The House passed a $39.8 billion bill on Tuesday night to support Ukraine in its fight against invading Russian forces. It to the Committee for a Responsible Federal Budget 40 billion and add. 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