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Home»Business»Finance
Finance

Senate Passes Long-Awaited Aid Package for Israel, Ukraine, Taiwan, and TikTok

April 23, 2024No Comments3 Mins Read
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The Senate has advanced a package to provide aid to Israel, Ukraine, and Taiwan after a political battle that lasted six months. The legislation passed a crucial procedural vote with bipartisan support, indicating that it is likely to become law. Senate Majority Leader Chuck Schumer expressed relief and urged his colleagues to pass the package quickly, as the Senate’s final debate clock begins running for up to 30 hours. If the legislation is officially passed, it will go to President Joe Biden for signing after the House passed it as four separate bills on Saturday. The funding includes billions for Ukraine aid, Israel, and Taiwan and Indo-Pacific security.

The foreign aid package also includes provisions like forcing Chinese company ByteDance to sell TikTok within nine months or face a national ban, which TikTok has pushed back against. The company plans to pursue a legal challenge if the provision becomes law, as it believes it would trample free speech rights. TikTok and ByteDance have spent over $7 million on lobbying and advertisements to prevent Congress from passing this legislation. The bill has faced GOP infighting, with threats and political pressure causing deadlock on Capitol Hill since President Biden proposed it in October. House Republicans like Marjorie Taylor Greene have been vocal against the foreign aid, leading to delays in passing the bill.

House Speaker Mike Johnson faced pressure to move on the funding after Iran’s attempted attack on April 13, prompting him to end the stalemate on the foreign aid package. Despite threats from Greene and the narrow House Republican majority, Johnson received public support from former President Trump, who praised Johnson’s efforts. The legislation includes measures to provide aid to Israel, Ukraine, and Taiwan, with billions allocated for each country’s security and support. The bill also contains foreign policy proposals like the TikTok provision, which has faced opposition from the company and has sparked debate in Congress.

The Senate’s vote on advancing the aid package is a significant step in getting the bill closer to becoming law, after facing challenges and delays in the political process. President Biden has expressed his willingness to sign the legislation into law once it passes the final vote in the Senate. The passage of this bill would provide crucial support to countries like Israel, Ukraine, and Taiwan, as well as address important foreign policy issues. The legislation includes several measures aimed at enhancing security and cooperation with key allies, while also addressing contentious issues like the TikTok provision that has raised concerns about free speech rights and business practices.

The Senate’s bipartisan support for the aid package indicates that there is widespread recognition of the importance of providing assistance to key allies and addressing critical foreign policy issues. The bill’s passage would signal a significant step in strengthening international partnerships and addressing global challenges. Despite the political battles and infighting that have characterized the process of passing the foreign aid package, the Senate’s vote to advance the legislation demonstrates progress towards providing crucial support to countries in need. With President Biden’s support and the momentum gained from the Senate’s vote, the aid package is on track to become law and provide much-needed assistance to Israel, Ukraine, Taiwan, and other nations.

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