According to the recently introduced bill regarding Ukraine, aid foresees allocation of $60.8B to Ukraine and regional partners counter Russia. Defense expenditures will amount to $49.9B and also contain a request to the US president to provide Ukraine with ATACMS missiles.
Also, $9.5B is earmarked for economic aid to Ukraine and countries affected by the Russian invasion. Economic support will be provided as a loan and cannot be spent on pension payments.
However, the US president can write off 50% of the debt after November 15, 2024, and 100% after January 1, 2026.
The national security law allows the possibility of confiscating sovereign assets of the Russian Federation in favor of Ukraine. In particular, the US president can apply the confiscation procedure with the subsequent transfer of assets to dedicated funds.
The bills are expected to be put up for a vote on April 20.
President Joe Biden supports all the bills recently announced by Republican Speaker Mike Johnson and is ready to sign them into law after they are approved by both houses of Congress.