Connect with us

Hi, what are you looking for?

Smart Success Strategy – Investing and Stock NewsSmart Success Strategy – Investing and Stock News

Investing

Senate approves $95B aid package for Ukraine and Israel, TikTok divestment, awaits Biden’s signature

A $95 billion package with aid to both Ukraine and Israel passed the Senate on Tuesday night after the House’s various adjustments were approved in the lower chamber over the weekend. 

By a vote of 79 to 18, the Senate sent the package to President Biden’s desk, and he is expected to sign off on the additional foreign aid. It notably passed with more votes than the previous Senate-passed version had garnered in February.

The package ultimately included aid to Ukraine, Israel and Taiwan, alongside measures requiring TikTok to divest from Chinese-owned ByteDance and to allow $5 billion in Russian assets held in U.S. banks to be transferred to Ukraine.

Biden had initially requested the supplemental foreign aid in October. A different version of the package with funds for Ukraine, Israel and Taiwan passed the Senate in February but was never voted on in the House. 

Under the measures, roughly $61 billion is set aside for supporting Ukraine in the war against Russia, about $26 billion is allotted for Israel and humanitarian aid, and nearly $8 billion is provided for the Indo-Pacific and Taiwan.

The Senate cleared the way for quick passage of the bills earlier on Tuesday when it voted in favor of invoking cloture, 81-19.

After the cloture motion passed, Senate Majority Leader Chuck Schumer, D-N.Y., celebrated, telling senators in floor remarks, ‘In a resounding bipartisan vote, the relentless work of six long months has paid off: Congress is sending the supplemental to President Biden’s desk.’ 

‘This is an important day for America and a very important day for freedom-loving countries around the world,’ Senate Minority Leader Mitch McConnell, R-Ky., remarked to reporters following the vote to invoke cloture. 

Prior to the cloture vote, a significant number of senators sought a motion to table an amendment tree, which blocks other amendments from being considered in regular order. The motion to table was a close vote, with 48 supporting it and 50 voting against, allowing the amendment tree to stand.

Sen. Bernie Sanders, I-Vt., released a statement following the motion’s failure, noting that it meant his amendment wouldn’t be considered. He wanted to see votes on his two amendments to the package, which would have ended unconditional aid to Israel and restored funding to the United Nations Relief and Works Agency (UNRWA). 

‘Polls show that a majority of Americans, and a very strong majority of Democrats, want to end U.S. taxpayer support for Netanyahu’s war against the Palestinian people,’ Sanders said in a statement. ‘It is a dark day for democracy when the Senate will not even allow a vote on that issue.’ 

A number of Republican lawmakers also wanted votes on their respective amendments, including Sen. Mike Lee, R-Utah, who proposed an amendment to require repayment of the foreign aid loan to Ukraine, in order to make it ‘real.’ 

If any amendments were passed in the Senate, the bill would be sent back to the House for its consideration once again. 

This post appeared first on FOX NEWS
Enter Your Information Below To Receive Latest News, And Articles.



    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    The energy revolution is here to stay, and electric vehicles (EVs) have become part of the mainstream narrative. Despite geopolitical tensions and uncertainty, the...

    Editor's Pick

    Overview Mexico’s Sinaloa state hosts a number of prolific silver and gold mines, including McEwen Mining’s (TSX:MUX) El Gallo Complex, Americas Gold and Silver’s...

    Editor's Pick

    Uranium is an important energy sector commodity, and its rising value has attracted investor interest. 2023 has seen uranium prices solidly above the important...

    Investing

    A new survey shows that the presidential race between former President Donald Trump and President Biden is thin, but Biden faces a deficit in...

    Disclaimer: smartsuccessstrategy.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 smartsuccessstrategy.com