House Passes $1 Billion in Loan Guarantees to Aid Ukraine

[ProSense]

House Passes $1 Billion in Loan Guarantees to Aid Ukraine

The U.S. House passed a measure to allow $1 billion in loan guarantees sought by the Obama administration to help restore financial stability in Ukraine.

The House voted 385-23 today under an expedited process to let the government guarantee private-sector loans to Ukraine. The bill, H.R. 4152, would allow previously appropriated funds to be used to cover the cost of the guarantees.

The vote is a first step in Congress to assist Ukraine, which has been rattled by political crisis and a Russian military siege of Crimea. President Barack Obama said today the U.S. and its allies will keep raising pressure on Russia to back down in Ukraine.

“We are well beyond the days when borders can be redrawn over the heads of democratic leaders,” Obama said at the White House.

- more -

http://www.bloomberg.com/news/2014-03-06/house-passes-1-billion-in-loan-guarantees-to-aid-ukraine.html

The no votes were Republicans: http://clerk.house.gov/evs/2014/roll114.xml

[Comrade Grumpy]

1. I thought we were broke. Is there an offset for this?

Are we cutting a billion out of the war budget?

[ProSense]

3. The U.S. budget

"I thought we were broke. Is there an offset for this?"

...is in the trillions.

<..>

Members of both parties praised the bill, including Appropriations Committee ranking member Rep. Nita Lowey (D-N.Y.), who said she backs the Obama administration's ideas for a broader package.

"Now is the time for us to support the people of Ukraine," she said. "I strongly support President Obama's comprehensive aid package to support Ukraine, which includes $1 billion in loan guarantees, technical assistance on trade, and recovery of stolen assets."

Democrats have said the Ukraine crisis should lead to a restructuring of the International Monetary Fund (IMF), in order to allow more aid to Ukraine.

- more -

http://thehill.com/blogs/floor-action/votes/200131-ukraine-aid-bill-clears-house

[Tx4obama]

2. And over in the Senate: Senator Sessions objects to passage of S.1821, Philippines Charitable Giving

Here: http://democrats.senate.gov/2014/03/06/senator-sessions-objects-to-passage-of-s-1821-philippines-charitable-giving/#.UxkEv84VSfs

[Cha]

4. Kick!