Thwarting this ambition by supporting Ukraine makes sense. The . '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. What Could Elon Musk Possibly Be Thinking? 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. MarketWatch provides the latest stock market, financial and business news. 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. Last May, Congress passed setting a $11billon limit on equipment for Biden to use through the PDA. 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 . The bill passed 368 to 57. It neglects priorities at home (the border), allows Europe to freeload, short changes critical interests abroad and comes w/ no meaningful oversight, Hawley tweeted Monday. 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. '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.'. '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. 'It is critical that government agencies administering these funds ensure they are used for their intended purposes to prevent and reduce the risk of waste, fraud, and abuse. 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. Paul pointed out that if the Senate approves the spending, the U.S. will have authorized $60 billion in total spending for Ukraine. 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. They need our help quickly. Joe Biden is pictured on Monday in Kyiv alongside Ukrainian counterpart Zelensky. . The House voted 368-57 on Tuesday to approve the measure. Powered and implemented by FactSet Digital Solutions. It didn't take lawmakers long to add $3.4 billion to his requests for both military and humanitarian programs. "No matter how sympathetic the cause, my oath of office is to the national security of the United States of America," Paul said. 'Doesn't look good': Hunter Biden reportedly raked in $11M 11-year-old reads aloud from 'pornographic' book he checked out from library at school board meeting, Chicago's top cop quits one day after woke mayor lost re-election bid, Influencer refuses to switch business class seats so family can sit together, RHOA star Drew Sidora accuses ex Ralph Pittman of cheating, mental abuse, Original Gone With The Wind script reveals secret war over slavery, cut scenes, Drake regrets disrupting someones life by name-dropping exes in his songs, Good luck 'worming' your way out of this one, Sunny Hostin Points Finger at China for COVID Crisis: Did Not Cooperate With the International Community, 'Disgraceful' Meghan, Harry 'provoked' King Charles to evict them: royal expert. The House passed a nearly $40 billion military and humanitarian aid package for Ukraine late Tuesday. 2022 CBS Interactive Inc. All Rights Reserved. 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. Critics have argued that the federal government may not be the best judge of winners and losers. But chip makers have already announced billions of dollars in plans for new investments around the United States. Pauls initial hold on the bill was blasted bytop Ukrainian officials, Majority Leader Chuck Schumer (D-NY) and Minority Leader Mitch McConnell (R-Ky.). 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. It is one of the largest federal investments in a single industry in decades and highlights deepening concern in Washington about Americas dependence on foreign chips. "We have preliminary results, we will have certain losses declared, if I am not mistaken, within UAH 40 billion," he said . 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. 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. 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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. 'Before Congress even discusses the possibility of additional aid, the public must get answers to a number of important questions. 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. 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 bill provides appropriations to several federal departments and agencies, including the Department of Justice, the Department of Defense, the Nuclear Regulatory Commission, The United States would provide support in the form of the $13 billion Marshall Plan - which was worth $160 billion in today's money - and the Truman Doctrine. articles a month for anyone to read, even non-subscribers! Copyright 2023 CBS Interactive Inc. All rights reserved. HOUSE PASSES $40 BILLION UKRAINIAN AID PACKAGE. 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 .. The Naftogaz of Ukraine national joint stock company expects UAH 40 billion losses in 2022. Micron, which makes advanced memory chips, has announced big expansion plans in New York. "Kyiv would become the largest yearly recipient of U.S. military aid over the past two decades," Paul said. Posted May 10, 2022 at 5:30pm. 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! A confirmation vote from the full Senate will come later this week. Powered and implemented by FactSet Digital Solutions. 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 . The bill passed the House last week despite "no" votes from 57 Republican congressmen. Most young women are not. 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,. 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. "To do that, we've got to get in the right posture in the Indo-Pacific, which we're not currently. Ukraine. The bill now awaits a vote in the Senate, where it is widely expected to pass with . American public is now starting to ask . Thank you for all our help. 'This is shown, for example, by the vast amount of funds that EU governments mobilized to cushion the energy price shock at home. Appropriators set aside $45 billion in aid for Ukraine and NATO allies amid Russia's ongoing invasion, which is $7 billion more than what the Biden administration had requested. "It bears directly on America's national security and vital interests that Russia's naked aggression not succeed and carries significant costs.". 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. Get the latest updates from the 2024 campaign trail, exclusive interviews and more Fox News politics content. We could build a border wall twice over with this amount of money," Hawley continued, stating that the U.S. needs to be more focused on the threat that illegal immigration poses, rather than fueling billions into a war and adding to our national debt. 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. 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