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Home»Business»Finance
Finance

House approves aid for Ukraine, Israel, and Taiwan; considers banning TikTok

April 20, 2024No Comments3 Mins Read
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The House passed a series of bills on Saturday to provide aid to Ukraine, Israel, and Taiwan, as well as force the Chinese company ByteDance to sell TikTok. These bills were wrapped into a single package and will be sent to the Senate for approval before being signed into law by President Joe Biden. The Senate is expected to vote on the package on Tuesday, according to Senate Majority Leader Chuck Schumer. Ukrainian President Volodymyr Zelenskyy and Israeli Foreign Affairs Minister Israel Katz both expressed gratitude for the aid package passing in the House.

The bills include over $60 billion for Ukraine aid, more than $26 billion for Israel, over $8 billion for Taiwan and Indo-Pacific security, and a measure to force ByteDance to sell TikTok within nine months or face a national ban. While some have criticized the inclusion of the TikTok measure in a foreign aid package, the House’s approval is seen as a critical step in providing much-needed aid to these countries. Despite previous delays and political threats from hardline House Republicans, Speaker Mike Johnson prioritized the aid package after Iran’s attempted strike on Israel, triggering a renewed bipartisan push for support.

The aid package for Ukraine, Israel, and Taiwan had been in limbo since President Biden first proposed it in October. The Senate had previously passed a $95 billion version of the aid in February, but the House had not taken action on it due to potential backlash from Republican members like Marjorie Taylor Greene. Speaker Johnson revisited the aid package following the attempted strike on Israel, structuring it into separate bills and putting it at the top of the House’s agenda. Despite Greene’s threat to force a vote to oust Johnson, she did not take action on Saturday, with Majority Leader Steve Scalise not expecting her to do so during the vote.

President Biden praised the bipartisan coalition of lawmakers in the House for putting national security first and urged the Senate to quickly pass the aid package so he can sign it into law. The package aims to provide crucial aid to Ukraine, Israel, and Taiwan, while also addressing the issue of ByteDance selling TikTok. Despite some criticism and potential political threats, the House’s approval of the aid package signifies an important step in supporting these countries and addressing foreign relations issues. The Senate is expected to vote on the package soon, with Ukrainian and Israeli leaders expressing gratitude for the support.

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