U.S. Congress Approves $95 Billion Foreign Aid Package After Months of Delay

The U.S. Congress has approved a foreign aid bill, which includes $61 billion for Ukraine, $26 billion for Israel and humanitarian aid, and $8.12 billion to counter China in the Indo-Pacific. The package faced months of delay due to Republican opposition but was ultimately passed by the Senate in a 79-18 vote on Monday.

The aid package is seen as vital support for Ukraine amid the ongoing Russian invasion and Kyiv's shortage of military supplies. Ukrainian President Volodymyr Zelensky praised the Senate's passage of the aid, stating that it will bolster Ukraine's defense and military capabilities on the battlefield. The package includes $8 billion in Presidential Drawdown Authority, allowing the Biden administration to send equipment from U.S. stocks.

In addition to the aid for Ukraine, the package allocates $26 billion in wartime assistance for Israel, Ukraine aid, TikTok Senate. It also includes $8.12 billion to counter China's influence in the Indo-Pacific region, with funds directed towards Taiwan and other U.S. allies in the area.

Why this matters: The passage of the foreign aid package marks a significant victory for the Biden administration and a bipartisan effort to support key U.S. allies and counter adversaries like Russia and China. The aid is expected to have far-reaching implications for geopolitical stability and the balance of power in Europe and the Indo-Pacific.

The legislation also includes measures to help sell off frozen Russian sovereign assets to fund Ukraine's war effort and imposes new sanctions on Iran. Additionally, it contains a provision that could force the Chinese-owned social media app TikTok to be sold off or face a ban in the United States.

The passage of the aid package is the result of a collaborative effort between Senate Majority Leader Chuck Schumer and Senate Minority Leader Mitch McConnell, who worked to convince the House to allow a vote on the measure. McConnell emphasized the importance of the aid, warning that failure to help Ukraine could lead to escalation against U.S. allies.

The $95 billion Congress aid package is expected to boost the order backlog of major U.S. defense firms that will supply equipment to Ukraine and other partners. President Biden is expected to sign the bill into law as soon as it reaches his desk, with the White House stating that the aid for Ukraine will be delivered within days of the bill's approval.

Key Takeaways

• U.S. Congress approves $95B foreign aid bill, including $61B for Ukraine.
• Package includes $26B for Israel, $8.12B to counter China in Indo-Pacific.
• Aid package seen as vital support for Ukraine amid Russian invasion.
• Bill includes measures to sell off frozen Russian assets, sanction Iran.
• Bill expected to boost U.S. defense firms' order backlog, signed by Biden.