Israel could get $10 billion and Ukraine $60 billion under Biden request

1 min read
49 views

President Joe Biden is expected to ask Congress to approve about $10 billion in military aid to Israel and some $60 billion for Ukraine as part of an emergency-funding request, according to reports.

Biden, who is scheduled to deliver remarks Thursday night from the Oval Office on the wars in Israel and Ukraine, is expected to ask lawmakers to approve about $100 billion in funds, which would also include money to aid Taiwan and to fortify the U.S.-Mexico border.

NBC News and the New York Times reported the $60 billion figure for Ukraine, and the Times and Reuters reported the $10 billion for Israel. The White House did not respond to a request for comment from MarketWatch.

Also read: Israeli shekel hits fresh low as fears of protracted conflict mount

There is broad support in Congress for aid for Israel after the country was attacked earlier this month by the militant group Hamas, but there is less support for further aid to Ukraine in its fight against Russia.

Biden on Wednesday said he would seek an “unprecedented support package” for Israel’s defense. The country, as Reuters notes, already gets $3.8 billion a year from the U.S. under a 10-year agreement that began in 2016.

Biden also announced on Wednesday $100 million in new U.S. humanitarian aid for Gaza and the West Bank.

Although Biden is expected to appeal to Congress, work in the House of Representatives is currently at a standstill with Republicans unable to elect a new speaker.

Rep. Jim Jordan of Ohio, whose bid to become the next speaker ran into more trouble on Wednesday, said he expected a third round of voting to occur around noon Eastern time on Thursday. With the House looking rudderless, some are calling for the chamber’s temporary speaker, GOP Rep. Patrick McHenry of North Carolina, to take on the role more permanently.

Victor Reklaitis contributed.

Read the full article here

Leave a Reply

Your email address will not be published.

Previous Story

What’s the fastest way to board a plane? United Airlines is going all in on ‘Wilma.’

Next Story

Las Vegas Sands shares rise after $2 billion stock repurchase

Latest from Economy