September 19, 2024

$95 Billion Lifeline

April 22, 2024

$95 Billion Lifeline

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Summary

The U.S. House of Representatives passed a $95 billion legislative package on Saturday that will provide foreign assistance to nations including Ukraine, Israel, and Taiwan. The package includes roughly $61 billion to Ukraine, $26 billion to Israel, and around $8 billion to Taiwan. The package has also modified and combined a potential ban on the use of TikTok in the United States. The Senate will decide over the next coming weeks if the bill will be passed and then signed into law by President Joe Biden.

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The U.S. House of Representatives passed a $95 billion legislative package on Saturday that will provide foreign assistance to nations including Ukraine, Israel, and Taiwan.

The package, which now heads to the Senate, aims to address several global issues. The centerpiece revolves around roughly $61 billion in aid for Ukraine as it continues battling a Russian invasion dating back to February 2022. This massive funding will help revamp U.S. stockpiles of weapons like ammunition, artillery, air defense systems and other munitions that have been transferred to Ukrainian forces.

Aside from Ukraine, the legislation includes $26 billion for Israel, a key U.S. ally in the Middle East. With roughly $9 billion going to humanitarian needs such as food, medical supplies, and shelter. The aid comes just days after Iran attempted to carry out a strike on Israeli territory, ratcheting up tensions.

For the Indo-Pacific region, over $8 billion would be provided to improve security assistance for Taiwan and other partner nations. The funds will help provide defensive military equipment and training as they face an increasingly assertive China.

On the topic of China, the package also includes a measure addressing a potential TikTok ban that would allow the U.S. to prohibit the application nationwide if its Chinese parent company ByteDance does not sell its ownership stake. The legislation gives ByteDance a 6-month deadline to divest from TikTok, with the possibility of a 90-day extension from the President, or else face a nationwide prohibition on the popular video app over espionage concerns.

The Senate is poised to quickly take up the House-passed bill, with some preliminary votes expected as soon as Tuesday afternoon. The passage of the bill is expected to come sometime next week, which would then clear the way for President Biden to sign it into law as he has verbally planned on.

While the package had bipartisan support, passing 311-112, the vote highlighted emerging isolationist views particularly among House Republicans, with 112 GOP members voting against the Ukraine aid portion. However, the urgency to support key U.S. allies and counter rivals like Russia, Iran and China ultimately united enough lawmakers behind the massive security assistance.

Once signed into law, the legislation will have profound global impacts. It ensures Ukraine's military can sustain its defense against Russian aggression for months to come. The Israel funding aims to bolster its defenses against Iran's nuclear ambitions and regional provocations. And the Taiwan assistance will help deter further escalations by China in disputed territories. On the domestic front, the TikTok measure thrusts the U.S. directly into Beijing's tech Cold War.

As the Senate now takes up the package, leaders like Majority Leader Schumer are expecting an intense debate over the scale, costs and implications of continuing deep U.S. involvement in overseas conflicts and with rivals like China. But the House's decisive action signals America's willingness to bear the burden of supporting partners worldwide amid an increasingly turbulent geopolitical environment.

Thank you for listening to this Current2 story and let us know your thoughts on the potential TikTok ban!

US House passes $95 billion Ukraine, Israel aid package, sends to Senate | Reuters
The House votes for possible TikTok ban in the US, but don’t expect the app to go away anytime soon | AP News
House passes Ukraine, Israel, Taiwan aid, potential TikTok ban | CNBC