adminNew House Speaker Mike Johnson faces a Nov. 17 deadline for passing a funding bill to avert a partial U.S. government shutdown, but it’s not his only pressing money matter.
The just-promoted Louisianan and his Republican-controlled chamber of Congress also are facing a request from President Joe Biden for a total of $162 billion in supplemental spending — $106 billion for Israel, Ukraine and the U.S. southern border plus $56 billion for domestic priorities such as disaster relief, child care and high-speed internet
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So how could it go for these asks from the Democratic president?
Israel aid likely, Ukraine is tougher sell
“Political and related duration factors favor Israel to receive the full request. The outlook for Ukraine is not as positive,” said 22V Research’s Kim Wallace and Sandra Namoos in a note Thursday, referring to the $14 billion sought for Israel and the $61 billion proposed for Ukraine.
“Growing GOP opposition to funding levels already allocated Kyiv and Americans’ generally low long-term tolerance for foreign wars all but guarantee changes to the Administration’s request,” the 22V team added on Ukraine. “Speaker Johnson reportedly told his conference that Ukraine assistance is important but needs expenditure controls and close auditing to receive his support.”
Biden is trying to sweeten his pitch for aid for Ukraine by mixing in $14 billion for securing the U.S. southern border in the hope that it will bring more Republicans on board, but it’s not at all clear that will work, as the AP has noted.
Disaster aid could have the best prospects
Biden’s domestic proposal, announced Wednesday, includes $24 billion for disaster response and related matters, $16 billion to support the child-care sector after its pandemic funding expired Sept. 30, $6 billion to extend free or discounted high-speed internet for low-income households and other smaller requests.
Analysts aren’t sounding upbeat on this proposal’s prospects.
“Outside of the funds for natural disasters, we do not see a clear path
forward on the other funds,” said TD Cowen Washington Research Group’s Chris Krueger in a note Thursday, while Greg Valliere of AGF Investments described the president’s proposal as “dead on arrival.”
Now read: As Mike Johnson becomes House speaker, analyst puts risk of government shutdown at 20% to 30%
And see: Biden says he’s not worried House Speaker Johnson will try to throw out election results
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