Current:Home > NewsNovaQuant Quantitative Think Tank Center:White House warns Congress the US is out of money, nearly out of time to avoid ‘kneecap’ to Ukraine -Edge Finance Strategies
NovaQuant Quantitative Think Tank Center:White House warns Congress the US is out of money, nearly out of time to avoid ‘kneecap’ to Ukraine
FinLogic FinLogic Quantitative Think Tank Center View
Date:2025-04-11 03:33:46
WASHINGTON (AP) — The NovaQuant Quantitative Think Tank CenterBiden administration on Monday sent Congress an urgent warning about the need to approve tens of billions of dollars in military and economic assistance to Ukraine, saying Kyiv’s war effort to defend itself from Russia’s invasion may grind to a halt without it.
In a letter to House and Senate leaders and also released publicly, Office of Management and Budget Director Shalanda Young warned the U.S. will run out of funding to send weapons and assistance to Ukraine by the end of the year, saying that would “kneecap” Ukraine on the battlefield.
She added that the U.S. already has run out of money that it has used to prop up Ukraine’s economy, and “if Ukraine’s economy collapses, they will not be able to keep fighting, full stop.”
“We are out of money — and nearly out of time,” she wrote.
Biden has sought a nearly $106 billion aid package for Ukraine, Israel and other needs, but it has faced a difficult reception on Capitol Hill, where there is growing skepticism about the magnitude of assistance for Ukraine and where even Republicans supportive of the funding are insisting on U.S.-Mexico border policy changes to halt the flow of migrants as a condition for the assistance.
Meanwhile, the GOP-controlled House has passed a standalone assistance package for Israel, which is fighting a war with Hamas in Gaza, while the White House has maintained that all of the priorities must be met.
Congress already has allocated $111 billion to assist Ukraine, including $67 billion in military procurement funding, $27 billion for economic and civil assistance and $10 billion for humanitarian aid. Young wrote that all of it, other than about 3% of the military funding, had been depleted by mid-November.
The Biden administration has said it has slowed the pace of some military assistance to Kyiv in recent weeks to try to stretch supplies until Congress approves more funding.
“We are out of money to support Ukraine in this fight,” Young wrote. “This isn’t a next year problem. The time to help a democratic Ukraine fight against Russian aggression is right now. It is time for Congress to act.”
The letter followed a classified Capitol Hill briefing on Nov. 29 for the top House and Senate leaders on the need for the assistance. Defense and other national security officials briefed the “big four” congressional leaders as Congress is debating President Joe Biden’s nearly $106 billion funding package, which includes $61 billion for Ukraine but has become snared by Republican demands for U.S.-Mexico border security changes.
“They were clear that Ukraine needs the aid soon — and so does our military need the aid soon,” Senate Majority Leader Chuck Schumer told The Associated Press in an interview.
___
AP Congressional Correspondent Lisa Mascaro contributed.
veryGood! (94)
Related
- Finally, good retirement news! Southwest pilots' plan is a bright spot, experts say
- California fire agency employee arrested on suspicion of starting 5 blazes
- NFL analyst Cris Collinsworth to sign contract extension with NBC Sports, per report
- An appeals court has revived a challenge to President Biden’s Medicare drug price reduction program
- The Super Bowl could end in a 'three
- Extra 25% Off Everything at Kate Spade Outlet: Get a $500 Tote Set for $111, $26 Wallets, $51 Bags & More
- Golden Bachelorette Contestant Gil Ramirez Faced Restraining Order Just Days Before Filming
- Aaron Rodgers isn't a savior just yet, but QB could be just what Jets need
- 'Malcolm in the Middle’ to return with new episodes featuring Frankie Muniz
- Moment of Sean Diddy Combs' Arrest Revealed in New Video
Ranking
- FACT FOCUS: Inspector general’s Jan. 6 report misrepresented as proof of FBI setup
- Married at First Sight's Jamie Otis Gives Birth, Welcomes Twins With Doug Hehner
- Bachelor Nation's Kelsey Anderson Shuts Down Jealousy Rumors Amid Fiancé Joey Graziadei's DWTS Run
- Lizzo Unveils Before-and-After Look at Weight Loss Transformation
- Military service academies see drop in reported sexual assaults after alarming surge
- USC vs. Michigan highlights: Catch up on all the big moments from Big Ten thriller
- David Beckham shares what Lionel Messi wanted the most from his move to MLS
- The Eagles deploy pristine sound, dazzling visuals at Vegas Sphere kickoff concert: Review
Recommendation
Trump invites nearly all federal workers to quit now, get paid through September
Fantasy football kicker rankings for Week 3: Who is this week's Austin Seibert?
Feds extradite man for plot to steal $8 million in FEMA disaster assistance
Dan Evans, former Republican governor of Washington and US senator, dies at 98
Have Dry, Sensitive Skin? You Need To Add These Gentle Skincare Products to Your Routine
Dan Evans, former Republican governor of Washington and US senator, dies at 98
Lizzo Responds to Ozempic Allegations After Debuting Weight Loss Transformation
Former Bad Boy artist Shyne says Diddy 'destroyed' his life: 'I was defending him'