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House Passes $95 Billion Foreign Aid Package

House Passes $95 Billion Foreign Aid Package

Apr 21, 2024

House Passes $95 Billion Foreign Aid Package

The U.S. House of Representatives on Saturday approved a foreign aid package that allocates funds to several regions, particularly Ukraine, Israel, and the Indo-Pacific area. The legislative package, amounting to a total of $95 billion, encompasses $61 billion for Ukraine, $26 billion for Israel, and $8 billion for the Indo-Pacific region.

Speaker Mike Johnson played a pivotal role in passing the bill with a majority of 311 to 112 by reaching an agreement with Democratic members. The bipartisan effort is seen as a pushback against a group of conservative lawmakers who have been vocal about prioritizing domestic issues such as border security.

House Foreign Affairs Chairman Michael McCaul commented on the package, stating, "We cannot be afraid of our shadows. We must be strong. We have to do what’s right," according to Bloomberg.

In a related move, the House also passed an $8 billion aid package intended to counter Chinese influence in Taiwan and a bill targeting TikTok, a social media platform owned by China's ByteDance Ltd. The bill mandates ByteDance to divest its ownership in TikTok or risk a U.S. ban. Additionally, it includes provisions to seize Russian dollar assets to fund further assistance to Ukraine.

The aid earmarked for Ukraine will be used to replenish U.S. weapons stockpiles with $13 billion, while $14 billion is designated for U.S. defense systems to support Ukraine. A further $7 billion is allocated for U.S. military operations in the area.

The bill supporting Israel, which cleared with a vote of 366 to 58, includes a substantial $4 billion for missile defense.

Despite the significant foreign financial assistance, the package did not address funding for U.S. border security, a point of contention highlighted by Rep. Marjorie Taylor Greene (R-GA) and supported by Reps. Thomas Massie and Paul Gosar. Greene expressed dissatisfaction with the lack of NATO membership for Ukraine and the absence of any measures to secure the U.S. border or mitigate the national debt.

ZeroHedge Article

Bloomberg Article


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