🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

New US House speaker says Ukraine, Israel funding request should be split

Published 10/26/2023, 09:49 PM
Updated 10/26/2023, 10:50 PM
© Reuters. Newly elected Speaker of the House Mike Johnson (R-LA) smiles as he reacts to the applause of members of the House after being elected to be the new Speaker at the U.S. Capitol in Washington, U.S., October 25, 2023. REUTERS/Elizabeth Frantz

WASHINGTON (Reuters) -Newly elected U.S. Speaker of the House Mike Johnson said on Thursday that funding to support Ukraine and Israel should be handled separately, suggesting he will not back President Joe Biden's $106 billion aid package for both countries.

Johnson, speaking in an interview on Fox News, has concerns about Ukraine funding in general, and believes any money for Israel will need to be funded by cuts elsewhere.

He met Biden on Thursday and said he told White House staff "our consensus among House Republicans is we need to bifurcate those issues."

Biden wants Congress to provide $106 billion in supplemental funding, with the bulk of the money going to bolster Ukraine's defenses and the remainder split among Israel, Indo-Pacific and border enforcement.

Johnson said of Ukraine funding: "We want to know what the object is there, what is the end game in Ukraine.

"The White House has not provided that," he added.

Biden is betting that including money for Israel and immigration will help convince House Republicans wary of sending additional money to Ukraine to support the measure.

© Reuters. Newly elected Speaker of the House Mike Johnson (R-LA) smiles as he reacts to the applause of members of the House after being elected to be the new Speaker at the U.S. Capitol in Washington, U.S., October 25, 2023. REUTERS/Elizabeth Frantz

"Israel is a separate matter – we are going to bring forward a standalone Israel funding measure (of) over $14 billion,” Johnson said in the interview. He said House Republicans will look for other areas to cut in the budget in order to finance the funding for Israel.

The package includes $14.3 billion for Israel to fund air and missile defense support and other initiatives, as well as $61 billion for Ukraine.

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.