1 00:00:00,200 --> 00:00:03,040 Speaker 1: The Senate has easily passed more than one point seven 2 00:00:03,040 --> 00:00:06,760 Speaker 1: trillion dollar government funding package. Let's dig into this a 3 00:00:06,760 --> 00:00:09,160 Speaker 1: bit because it still has a way to go. Joining 4 00:00:09,240 --> 00:00:13,200 Speaker 1: us is Bloomberg's Eric Wasson, Eric, thanks so much. Now, 5 00:00:13,400 --> 00:00:15,960 Speaker 1: this vote had the added flavor if I may say, 6 00:00:16,000 --> 00:00:19,960 Speaker 1: of Vladimir Zelenski's a visit and speech last night, does 7 00:00:19,960 --> 00:00:24,439 Speaker 1: this include that that aid for Ukraine? In fact it does. Yes, 8 00:00:24,640 --> 00:00:28,760 Speaker 1: there's forty seven billion dollars to address the Ukraine situation. 9 00:00:29,040 --> 00:00:31,880 Speaker 1: Not all of it goes directly to Zelenski's government to 10 00:00:32,320 --> 00:00:35,400 Speaker 1: a twenty eight billion is in direct funding, but it 11 00:00:35,479 --> 00:00:39,400 Speaker 1: goes to allies to boot boosting US troops in the region, 12 00:00:40,120 --> 00:00:44,159 Speaker 1: refugee admission here in the US. But this is on 13 00:00:44,240 --> 00:00:47,880 Speaker 1: top of sixty five billion so far this year. So 14 00:00:48,120 --> 00:00:52,200 Speaker 1: it is another big infusion to help Ukraine, and it's 15 00:00:52,200 --> 00:00:56,120 Speaker 1: heading for a House vote tomorrow morning. Now, straighten out 16 00:00:56,120 --> 00:00:58,960 Speaker 1: for me that the patriot Mischels was a large deal 17 00:00:59,160 --> 00:01:02,480 Speaker 1: or is a large d for President Zelenski? Is that 18 00:01:02,640 --> 00:01:06,560 Speaker 1: part of this funding packages that separate? How does that work? Well, 19 00:01:06,560 --> 00:01:09,959 Speaker 1: that was already paid for by previous funding. Uh, you know, 20 00:01:10,040 --> 00:01:13,440 Speaker 1: Congress authorizes and appropriate this money, and then it's up 21 00:01:13,480 --> 00:01:16,440 Speaker 1: to the Biden administration to to start dolling that out. 22 00:01:16,480 --> 00:01:20,040 Speaker 1: So they announced some of the money going being released 23 00:01:20,280 --> 00:01:24,120 Speaker 1: directly when Zelinski was was in town and that that 24 00:01:24,160 --> 00:01:27,000 Speaker 1: was part of that. Now Zelenski is also pushing for abrams, 25 00:01:27,000 --> 00:01:31,160 Speaker 1: tanks of sixteens, other weapons that to summon. The Defense 26 00:01:31,240 --> 00:01:33,880 Speaker 1: Department are nervous about giving to Ukraine for fear of 27 00:01:34,000 --> 00:01:37,920 Speaker 1: escalating the war um but at least Rob Portman, who 28 00:01:37,959 --> 00:01:41,240 Speaker 1: was a major booster of the Ukraine effort, a Republican 29 00:01:41,240 --> 00:01:45,280 Speaker 1: senator from Ohio, thinks that perhaps the visit will help 30 00:01:45,319 --> 00:01:48,360 Speaker 1: the Ukraine to get those additional weapons and sometimes too, 31 00:01:49,040 --> 00:01:54,400 Speaker 1: and this includes the electoral college revamp. That's right, and 32 00:01:54,440 --> 00:01:58,480 Speaker 1: if if a listeners recall in January six, President Trump 33 00:01:58,480 --> 00:02:01,800 Speaker 1: and his supporters were trying to convince the vice president 34 00:02:01,840 --> 00:02:05,920 Speaker 1: to union latterly overturned the tooral college votes. There were 35 00:02:06,000 --> 00:02:09,919 Speaker 1: some unclear writing in the in the US law about 36 00:02:09,960 --> 00:02:12,760 Speaker 1: the role of the vice president. This this would clarify 37 00:02:12,840 --> 00:02:16,880 Speaker 1: these purely ministerial ceremonial He has no power to do 38 00:02:16,919 --> 00:02:19,480 Speaker 1: that and to try to ward off, you know, any 39 00:02:19,639 --> 00:02:23,560 Speaker 1: repeat of the January six insurrections. Now this funds the 40 00:02:23,560 --> 00:02:27,840 Speaker 1: government for the rest of fiscal three. Um. It still 41 00:02:27,840 --> 00:02:29,480 Speaker 1: needs to go to the House. Do we have any 42 00:02:29,720 --> 00:02:32,760 Speaker 1: idea on the timetable there? Yeah? It Well, it's going 43 00:02:32,840 --> 00:02:35,840 Speaker 1: to It looks like it's gonna pass the House tomorrow morning, 44 00:02:35,880 --> 00:02:38,480 Speaker 1: Friday morning, ahead of the deadline. They'll take a while 45 00:02:38,560 --> 00:02:42,240 Speaker 1: for the bill to be printed on parchment as they 46 00:02:42,240 --> 00:02:46,040 Speaker 1: still do. It's a four thousand, one and fifty page bill. Uh, 47 00:02:46,400 --> 00:02:48,640 Speaker 1: maybe a little bit longer do some amendments. So there 48 00:02:48,680 --> 00:02:51,239 Speaker 1: will be a one week stop gap to give the 49 00:02:52,200 --> 00:02:54,560 Speaker 1: time to do that, and Biden will have probably next 50 00:02:54,560 --> 00:02:58,399 Speaker 1: week to sign this before the funding runs out. Now, Eric, 51 00:02:58,480 --> 00:03:00,400 Speaker 1: this this is I'm going to do pie the sky 52 00:03:00,480 --> 00:03:02,840 Speaker 1: with you here. Um. This was a pretty good in 53 00:03:02,919 --> 00:03:06,440 Speaker 1: the Senate, at least bipartisan effort, and the hope would 54 00:03:06,480 --> 00:03:09,040 Speaker 1: be that the two parties would maybe be able to 55 00:03:09,080 --> 00:03:12,280 Speaker 1: make nice nice going on some stuff forward. Uh. Does 56 00:03:12,360 --> 00:03:16,040 Speaker 1: this show a trend or is that just flatly Baxter naive? 57 00:03:17,040 --> 00:03:19,600 Speaker 1: I think it's actually the opposite. I think Senate Republicans 58 00:03:19,600 --> 00:03:21,880 Speaker 1: cut this deal to boost the military to seventy six 59 00:03:21,880 --> 00:03:25,520 Speaker 1: billion dollar increase for the for defense. Uh. Now because 60 00:03:25,520 --> 00:03:27,440 Speaker 1: they feel like there's going to be gridlocked, and once 61 00:03:27,480 --> 00:03:30,960 Speaker 1: the House Republicans take over my personal forecasts, we're gonna 62 00:03:30,960 --> 00:03:34,800 Speaker 1: see stopcap measures perhaps for the next two years as 63 00:03:35,040 --> 00:03:37,360 Speaker 1: as both sides try to try to use the budget 64 00:03:37,400 --> 00:03:40,200 Speaker 1: process to score policy wins. Uh you know, it's going 65 00:03:40,240 --> 00:03:42,560 Speaker 1: to be very rocky. There could be a government shutdown 66 00:03:42,560 --> 00:03:46,200 Speaker 1: when this bill expires September thirty ye, because we're seeing 67 00:03:46,240 --> 00:03:48,840 Speaker 1: things like, uh, you know, attempts to build a border 68 00:03:48,880 --> 00:03:53,480 Speaker 1: wall again, talked about defunding specific uh you know officials 69 00:03:53,560 --> 00:03:56,680 Speaker 1: using the appropch process, and also clawing back the eight 70 00:03:56,720 --> 00:03:59,360 Speaker 1: hundred billion dollars that was granted the I R S 71 00:03:59,400 --> 00:04:03,480 Speaker 1: to to go after wealthy tax evasion. So um, you know, 72 00:04:03,640 --> 00:04:06,040 Speaker 1: those things are just non starters for Democrats and could 73 00:04:06,040 --> 00:04:09,000 Speaker 1: just leap to gridlock. Yeah, okay, alright, well, so much 74 00:04:09,080 --> 00:04:12,400 Speaker 1: for positive Thank you, thank you for the reality. Eric 75 00:04:12,720 --> 00:04:15,120 Speaker 1: Bloomberg's Eric Watson. We appreciate your help.