Republican leaders unveiled an aid bill Wednesday that would lend billions of dollars to Ukraine and ultimately give the president the power to forgive debt payments.
If this bill is signed, provide It will provide about $60 billion to Ukraine, which is at war with Russia, and is part of a broader legislative effort to provide aid to some of America’s closest allies, including Israel and countries in the Indo-Pacific. The bill provides Ukraine with about $10 billion, which Kiev must repay, but the president can forgive the entire debt after a certain period of time. according to in the text of the bill. (Related: Mike Johnson pushes Ukraine aid bill separate from border security — despite months of assurances)
“At any time after November 15, 2024, the President may, subject to parliamentary review as provided in Article 508, cancel up to 50 percent of the total debt owed by Ukraine for economic assistance,” the bill states. It’s dark. Thereafter, the President may cancel any remaining debt owed to the Government of Ukraine at any time after January 1, 2026 under this article.
Nearly $8 billion will come from the Economic Support Fund, with an additional $1.6 billion earmarked for “assistance to Europe, Eurasia, and Central Asia.”
“Upon completion of Congressional review, such revocation shall be final and irrevocable,” the bill reads. Congress can pass a resolution of disapproval to block debt cancellation, but the president has the power to use a veto to circumvent this.
All of this was expected to come together after voting for separate aid to Ukraine, Israel, and Taiwan (and a bill that included a possible ban on TikTok). The bill is not expected to include border security.
right anger
Chip Roy: “It’s long past time to give this a reprieve.” pic.twitter.com/07VqNODj8p— Manu Raju (@mkraju) April 17, 2024
Some Republicans are divided over lending to Ukraine. Former President Donald Trump said last week in Florida with House Speaker Mike Johnson that the loan might be reasonable. alternative “We will hand out billions of dollars in gifts,” he said, stressing the need for European Union countries to also provide more aid.Senate Minority Leader Mitch McConnell was denied He laid out this premise in March because he felt that Ukraine did not have enough time to wait for Congress to change the Senate’s existing proposal.
Other Republicans also appear. doubt Because they doubted Kiev was going to repay.
“I just don’t know what to make of it,” Missouri Republican Sen. Josh Hawley said. Said Business Insider in March. “I mean, if they actually paid it back, that’s a different story. But I don’t think they would, right? I mean, if they had the money, wouldn’t they just spend it?” Do you?”
“It’s like taking out a loan on an exploding car,” said Republican South Carolina Rep. Ralph Norman. Said Semaphores in March. “I don’t have an engine or tires. How do I get my money back?”
Johnson’s office did not respond to a request for comment.
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