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. 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. 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. "No matter how sympathetic the cause, my oath of office is to the national security of the United States of America," Paul said. 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. 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. 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. These four House Republicans broke with the GOP to oppose inflation estimates McCarthy, GOP pump brakes on release of Jan. 6 footage to Tucker Carlson. 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 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. Another $6.98 billion will go toward U.S. European Command mission and intelligence support, pay, equipment and related activities. And Zelensky wants more, including fighter jets. (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. A confirmation vote from the full Senate will come later this week. Micron, which makes advanced memory chips, has announced big expansion plans in New York. 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. 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. 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. '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. Russians have a high approval rating for Putin and the Ukraine war which may be due to the country's history with the United States and the Cold War. 'That means providing long range missiles, more tanks, fighter jets, and air defense systems. 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. The CHIPS Act Is About More Than Chips: Here's What's in It. (Ukrainian Presidential Press Office via AP). 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.". EXCLUSIVE: Sen. Josh Hawley, R-Mo., is warning that a measure by Congress to give Ukraine $40 billion additional funding in its war against Russia is evidence of the Biden administration's "misplaced priorities" and will be detrimental to the security of the U.S. Couldnt Congress simply shift over the $40 billion and not add it to the debt? 2022 CBS Interactive Inc. All Rights Reserved. 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. $13.6 billion for aid to Ukraine . Final passage of military, food aid bill expected this week, Kentucky Senator Paul delayed passage, demanded changes. Mr. Biden asked Congress for $33 billion two weeks ago. Get stock market quotes, personal finance advice, company news and more. Updated on: May 13, 2022 / 9:11 AM The Big Take is the very best of Bloomberg's in-depth, original reporting from around the globe every day. 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. This material may not be published, broadcast, rewritten, or redistributed. The United States manufactures 12 percent of chips, though none of the worlds most advanced. The bill, approved in a 368-57 vote, provides myriad support to. 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. Gleb Garanich/Reuters. 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. Schumer and McConnell stood nearly side-by-side as they tried pushing the legislation forward. Why it matters: The deal, which is billions more than the $33 billion the White House initially requested, is slated for quick passage after Democrats agreed to . He was joined by John Barrasso of Wyoming, Susan Collins of Maine and John Cornyn of Texas. Anyone can read what you share. There's $8.7 billion for the Pentagon to rebuild stocks of weapons it has shipped to Ukraine and $3.9 billion for U.S. troops in the region. The shepherd boy, the wolf and the threat to Israeli democracy, Watch live: White House monkeypox response team holds briefing, Do Not Sell or Share My Personal Information. 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. AP/Manuel Balce Ceneta. All rights reserved. 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. Applicants are also required to detail their engagement with labor unions, schools and work force education programs, with preference given to projects that benefit communities and workers. 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. 2023 FOX News Network, LLC. THE $46 BILLION IN AID ON DRONES, TANKS AND MILITARY HARDWARE. The latest Arizona headlines, breaking news, in-depth investigations, politics, and local community stories that matter to you. It also reflects strategic concerns about letting Putin seize European territory unanswered as his assault on his neighbor to the west grinds into its 12th week. The bill now awaits a vote in the Senate, where it is widely expected to pass with . "It is a matter of priorities that are misplaced. '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. 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. Company finances can be opaque, and when a company saves a dollar in the United States, it may then choose to invest it elsewhere. And $126.3 million would help to prepare for and respond to potential nuclear and radiological incidents in Ukraine, notable given the frequent saber rattling from Russian President Vladimir Putin over his countrys nuclear stocks. 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. Thanks for contacting us. A sprawling new program for the semiconductor industry is foremost about national security, but it will try to advance other . The comments below have not been moderated. The rest of the United States' financial assistance covers funds for humanitarian and financial aid such as food, safe drinking water and medical supplies. 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. ", 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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Gina Raimondo, the secretary of commerce, describes the program as foremost a national security initiative. Get browser notifications for breaking news, live events, and exclusive reporting. While the United States is still a leader in designing chips, most manufacturing has been sent offshore. 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. Quotes displayed in real-time or delayed by at least 15 minutes. ', 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. / CBS/AP. 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. House appropriators released a $39.8 billion Ukraine aid bill that directs half of its largesse to the Pentagon and U.S. arms makers. 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Tuesday morning on The Tennessee Star Report, host Leahy welcomed U.S. 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. That helped create a car shortage and raise the price of cars, stoking inflation. Biden administration officials have said they expect the latest aid measure to last through September. "All he will accomplish with his actions here today is to delay that aid, not to stop it.". 109 Bradley infantry fighting vehicles,75,000 sets of body armor and helmets, 38 High Mobility Artillery Rocket systems, and4,000 Zuni aircraft rockets have also been sent over. (Andrij Sybiha/Facebook). Last week, 57 Republicans voted against the Ukraine assistance bill in the House. MarketWatch provides the latest stock market, financial and business news. Ms. Raimondo has said child care will draw more people into the work force, when many businesses are struggling in a tight labor market. Do not sell or share my personal information. Legal Statement. Most young men are single. 1998 - 2023 Nexstar Media Inc. | All Rights Reserved. "Helping Ukraine is not an instance of mere philanthropy," McConnell said. The Ukraine aid was attached to an omnibus $1.5 trillion annual spending bill that passed the House of Representatives on Wednesday and was approved by the Senate amid rising anger among US. It must help Ukraine win, not just fight to a draw. If the administration gets it wrong, it could face intense criticism. Farm Heroes Saga, the #4 Game on iTunes. President Biden has three methods at his disposal to provide direct aid to Ukraine: The Presidential Drawdown Authority (PDA), the Ukraine Security Assistance Initiative (USAI), and Foreign Military Financing (FMF). Other provisions will encourage companies, universities and other parties to offer more training for workers, both in advanced sciences and in skills like welding. Why? There is also money to support refugee programs for the vast number of Ukrainians who have been forced to flee their homes. 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. This involves delivering supplies from the U.S. military's own arsenal. 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. articles a month for anyone to read, even non-subscribers! 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. 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