Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Amidst Congressional Chaos, Biden Asks For Over $100 Billion To Pour Into Israel And Ukraine

Published 22/10/2023, 15:41
© Reuters.  Amidst Congressional Chaos, Biden Asks For Over $100 Billion To Pour Into Israel And Ukraine

Benzinga - by Bibhu Pattnaik, Benzinga Staff Writer.

Amidst a backdrop of global challenges, President Joe Biden has reached out to Congress, seeking a substantial financial commitment.

What Happened: Biden has officially requested Congress to approve over $100 billion to aid Israel and Ukraine, with a significant amount for humanitarian assistance to Palestinian civilians.

According to Business Insider India, the request was made amidst ongoing conflicts between Israel and Hamas, as well as between Ukraine and Russia.

The White House is seeking $61.4 billion for Ukraine, $14.3 billion for Israel, and $9.15 billion for humanitarian aid for both countries and Gaza. Also included is over $7 billion for domestic border operations to counter the entry of fentanyl into the U.S.

Also Read: Intelligence Reports On Hamas Failed To Reach Biden Before Attack Occurred"The administration looks forward to continued engagement with members of both parties to reach a comprehensive bipartisan agreement to fund the government and invest in critical national priorities," Office of Management and Budget Director Shalanda Young said during a press call.

This official request follows Biden's announcement of his intention to provide funding to Israel and Ukraine, as well as $100 million in humanitarian assistance for Gaza and the West Bank civilians, routed through the United Nations as well as international NGOs.

Despite opposition from some Republican lawmakers to continue funding for Ukraine, the president and Treasury Secretary Janet Yellen have asserted the U.S.' capacity to aid both Ukraine and Israel.

Amidst the chaos in the House of Representatives, where the speaker's seat remains vacant, it remains unclear how swiftly Congress can pass or debate this supplemental funding request.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Now Read: Trump Blasts NY Attorney General Letitia James, Appears Less Attentive To Israel-Hamas Conflict: 'Total Wack Job'

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo: Shutterstock

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.