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. 'When will politicians and bureaucrats learn that you just cant hand out money and expect it to go the right people and places? 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. Biden had called on Congress to move quickly so he could sign the bill into law before existing defense aid for Ukraine runs out later in May. 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.'. 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. (Ukrainian Presidential Press Office via AP). The House passed the Ukraine spending bill by 368 to 57, with only Republicans voting against it. 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. ", MCCONNELL MAKES SURPRISE TRIP TO MEET ZELENSKYY IN UKRAINE, Senate Minority Leader Mitch McConnell, R-Ky., meets President Zelenskyy in Ukraine. 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. At the same time, China has increased its market share in less advanced chips that are still critical for cars, electronics and other products. If the defense of Ukraine is really in our national security interest, shouldnt their gift come from our military budget?". 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. I think it will pass. Its about prioritizing American security and American interests.. 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. Legal Statement. It also authorizes $4 billion in Foreign Military Financing to provide support for Ukraine and other countries affected by the crisis. Two months ago, only three GOP House members voted against a separate security package. . Republicans want separate COVID-19 legislation to be a battleground for an election-season fight over immigration that divides Democrats. 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 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 CHIPS Act Is About More Than Chips: Heres Whats in It, https://www.nytimes.com/2023/02/28/business/economy/chips-act-childcare.html. Updated on: May 13, 2022 / 9:11 AM George Soros HonFBA (born Gyrgy Schwartz, August 12, 1930) is a Hungarian-American businessman and philanthropist. 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. 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 FMF replenishes the stockpiles of NATO allies, and Biden has used that three times to hand over $3.1billion of support. But lawmakers . 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. The House passed a nearly $40 billion military and humanitarian aid package for Ukraine late Tuesday. Greg Nash/Pool via AP, File. The House of Representatives has passed a nearly $40 billion bill that will aid Ukraine in its war with Russia. (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. 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. It must help Ukraine win, not just fight to a draw. Thwarting this ambition by supporting Ukraine makes sense. The bill includes $19.7 billion for the Defense Department, more than $3 billion above the level asked for by the Biden administration. THE $46 BILLION IN AID ON DRONES, TANKS AND MILITARY HARDWARE. GOP investigators have said they will keep an eye on where the money is going, while a faction of the party has called for aid to be drastically reduced. An Intel factory under construction in Arizona. The measure includes $6 billion for Ukraine for intelligence, equipment and training for its forces, plus $4 billion in financing to help Kyiv and NATO allies build up their militaries. Ukraine and countries affected by the situation in Ukraine, including NATO Eastern flank countries and other partners in the region, to build and update their capabilities. Anyone can read what you share. 'That means providing long range missiles, more tanks, fighter jets, and air defense systems. "I mean, what needs to happen here is we need to get out of the business of nation building, and we need to get focused on deterring our most significant adversary, which is China," said Hawley, who says he still supports aid to Ukraine to defeat Russia, but not in such a massive quantity. "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. 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. 'This is shown, for example, by the vast amount of funds that EU governments mobilized to cushion the energy price shock at home. 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. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. 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. With these decisions ahead, it is worth reviewing how much aid there has been, what that . Bryant Harris. With the Senate poised to debate and vote on the package of military and economic aid, Paul denied leaders the unanimous agreement they needed to proceed. 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. The push toward passage came as Russia continued blasting Ukrainian forces and cities in southern and eastern portions of the country. 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? 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 . Bidens fellow Democrats narrowly control Congress, but the bill will need Republican votes to get through the Senate. If Biden is serious about avoiding a debt ceiling disaster, he needs to act like it and put away the taxpayers checkbook. The Commerce Department has $50 billion to hand out in the form of direct funding, federal loans and loan guarantees. 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. And, you know, we've also got to get serious about protecting our border, which is truly in a total crisis on our southern border. 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. ", Ukrainian President Volodymyr Zelenskyy and Senate Minority Leader Mitch McConnell, R-Ky., pose for a photo in Kyiv, Ukraine, on Saturday, May 14. The GOP believes accelerated financial packages - similar to those approved during the COVID pandemic - are open to mismanagement or abuse. Paul, a libertarian who often opposes U.S. intervention abroad, said he wanted language inserted into the bill, without a vote, that would have an inspector general scrutinize the new spending. House appropriators released a $39.8 billion Ukraine aid bill that directs half of its largesse to the Pentagon and U.S. arms makers. Despite support from Democratic and GOP leadership, 11 Republicans broke from their party and One 2020 study, for example, found that a $50 billion investment in the industry would increase U.S. market share only to 14 percent. He has alsovoted againstoverwhelmingly bipartisan bills to send additional aid packages to Ukraine. The Senate advanced a $40 billion Ukraine aid bill on Monday evening, despite opposition from a handful of Republican senators, in a vote tallying 81-11. Biden utilized the authority to send $9.2 billion - or roughly 84 percent - worth of supplies from the U.S. stockpiles. 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. American peasants you get nothing because this administration hates you! 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. "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. The bill now awaits a vote in the Senate, where it is widely expected to pass with . 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. The Big Take is the very best of Bloomberg's in-depth, original reporting from around the globe every day. This material may not be published, broadcast, rewritten, or redistributed. Most young women are not. 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. 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 bill provides appropriations to several federal departments and agencies, including the Department of Justice, the Department of Defense, the Nuclear Regulatory Commission, 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. 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. 'The Americans are setting the pace in supporting Ukraine,'Christoph Trebesch, the head of the Ukraine Support Tracker team at the Kiel Institute said. "Kyiv would become the largest yearly recipient of U.S. military aid over the past two decades," Paul said. Joe Biden is pictured on Monday in Kyiv alongside Ukrainian counterpart Zelensky. Paul stood in objection to the effort supported by both. 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. 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 House passed the Ukraine spending bill by 368 to 57, with every no vote coming from Republicans. 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. Sen.. $46.6 billion is in military assistance such as tanks, missiles and drones. 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. MORE: Top House Republicans support more aid for Ukraine but want 'accountability' Play it now! '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. Farm Heroes Saga, the #4 Game on iTunes. The bill, approved in a 368-57 vote, provides myriad support to. "It bears directly on America's national security and vital interests that Russia's naked aggression not succeed and carries significant costs.". Live from Dubai, connecting Asian markets to the European opens. '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.'. 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. Biden's funding bill for Ukraine includes over $20 billion in weapons and security assistance for Ukraine, $6 billion for the Ukraine Security Assistance Initiative, and $4 billion for the State Departments Foreign Military Financing program. And Zelensky wants more, including fighter jets. 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 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. We've got to get serious about getting tough on China's trade cheating, which this administration is not. @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. Stories from Ukraine Biden's approval rating has hit a new low The . 2022 CBS Interactive Inc. All Rights Reserved. Today, more than 90 percent of the most technologically advanced chips, which are critical for the U.S. military and the economy, are produced in Taiwan. Sen. Lindsey Graham blasts baby formula shortage on 'Jesse Watters Primetime.'. Ms. Raimondo has said child care will draw more people into the work force, when many businesses are struggling in a tight labor market. 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. "It is a matter of priorities that are misplaced. 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 . He was joined by John Barrasso of Wyoming, Susan Collins of Maine and John Cornyn of Texas. The measure now goes to President Biden, who is expected to sign the bill. 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. It was 1947, and the Democrat was trying to persuade a weary population mourning the deaths of 470,000 American troops that other countries destroyed by war needed aid to rebuild and fight off the ongoing threat from Joseph Stalin's Soviet Union. The package that passed 86-11 will give Ukraine another round of military and humanitarian assistance as the war with Russia drags on. 'The Committee seeks documents and information to understand how the Department of Defense (DOD), Department of State (State), and the U.S. Agency for International Developments (USAID) are conducting oversight of these fund.'. And a Car. 'The Europeans' hesitancy in the first year of the war is a remarkable phenomenon, especially since financial resources can be quickly mobilized,' he added. 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. 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 program also includes some ambitious and unusual requirements aimed at benefiting the people who will staff semiconductor facilities. Why? The Senate is expected to hold a final passage vote on the bill later this week, requiring just 60 votes, and then it would head to President Biden's desk. 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