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

US House Republicans unveil bill to fund Israel by cutting IRS budget

Published 10/30/2023, 06:19 PM
Updated 10/30/2023, 06:21 PM
© Reuters. FILE PHOTO: The U.S. Capitol Building is seen in Washington, U.S., August 15, 2023. REUTERS/Kevin Wurm/File Photo

By Patricia Zengerle

WASHINGTON (Reuters) - U.S. House of Representatives Republicans on Monday introduced a plan to provide $14.3 billion in aid to Israel by cutting funding for the Internal Revenue Service, setting up a showdown with Democrats who control the Senate.

In one of the first major policy actions under new House Speaker Mike Johnson, House Republicans unveiled a standalone supplemental spending bill only for Israel, despite Democratic President Joe Biden's request for a $106 billion package that would include aid for Israel, Ukraine and border security.

Johnson, who voted against aid for Ukraine before he was elected House speaker last week, had said he wanted aid to Israel and Ukraine to be handled separately. He has said he wants more accountability for money that has been sent to the Kyiv government as it fights Russian invaders.

"Israel is a separate matter," Johnson said in an interview on Fox News last week, describing his desire to "bifurcate" the Ukraine and Israel funding issues.

Johnson has said bolstering support for Israel should top the U.S. national security agenda in the aftermath of the Oct. 7 attack by Hamas militants that killed more than 1,400 people and saw more than 200 others taken hostage.

Democrats accused Republicans of stalling Congress' ability to help Israel by introducing a partisan bill.

White House press secretary Karine Jean-Pierre issued a statement accusing Republicans of "politicizing national security" and calling their bill a non-starter. To become law, the measure would need to pass the House and the Senate and be signed by President Biden.

© Reuters. FILE PHOTO: The U.S. Capitol Building is seen in Washington, U.S., August 15, 2023. REUTERS/Kevin Wurm/File Photo

"House Republicans are setting a dangerous precedent by suggesting that protecting national security or responding to natural disasters is contingent upon cuts to other programs," Representative Rosa DeLauro, the ranking Democrat on the House Appropriations Committee, said in a statement.

The House Rules Committee is expected to consider the Republican Israel bill on Wednesday.

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.