WEBVTT - Senate Passes Funding Bill (Radio)

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<v Speaker 1>The Senate has easily passed more than one point seven

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<v Speaker 1>trillion dollar government funding package. Let's dig into this a

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<v Speaker 1>bit because it still has a way to go. Joining

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<v Speaker 1>us is Bloomberg's Eric Wasson, Eric, thanks so much. Now,

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<v Speaker 1>this vote had the added flavor if I may say,

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<v Speaker 1>of Vladimir Zelenski's a visit and speech last night, does

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<v Speaker 1>this include that that aid for Ukraine? In fact it does. Yes,

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<v Speaker 1>there's forty seven billion dollars to address the Ukraine situation.

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<v Speaker 1>Not all of it goes directly to Zelenski's government to

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<v Speaker 1>a twenty eight billion is in direct funding, but it

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<v Speaker 1>goes to allies to boot boosting US troops in the region,

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<v Speaker 1>refugee admission here in the US. But this is on

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<v Speaker 1>top of sixty five billion so far this year. So

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<v Speaker 1>it is another big infusion to help Ukraine, and it's

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<v Speaker 1>heading for a House vote tomorrow morning. Now, straighten out

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<v Speaker 1>for me that the patriot Mischels was a large deal

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<v Speaker 1>or is a large d for President Zelenski? Is that

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<v Speaker 1>part of this funding packages that separate? How does that work? Well,

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<v Speaker 1>that was already paid for by previous funding. Uh, you know,

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<v Speaker 1>Congress authorizes and appropriate this money, and then it's up

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<v Speaker 1>to the Biden administration to to start dolling that out.

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<v Speaker 1>So they announced some of the money going being released

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<v Speaker 1>directly when Zelinski was was in town and that that

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<v Speaker 1>was part of that. Now Zelenski is also pushing for abrams,

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<v Speaker 1>tanks of sixteens, other weapons that to summon. The Defense

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<v Speaker 1>Department are nervous about giving to Ukraine for fear of

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<v Speaker 1>escalating the war um but at least Rob Portman, who

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<v Speaker 1>was a major booster of the Ukraine effort, a Republican

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<v Speaker 1>senator from Ohio, thinks that perhaps the visit will help

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<v Speaker 1>the Ukraine to get those additional weapons and sometimes too,

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<v Speaker 1>and this includes the electoral college revamp. That's right, and

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<v Speaker 1>if if a listeners recall in January six, President Trump

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<v Speaker 1>and his supporters were trying to convince the vice president

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<v Speaker 1>to union latterly overturned the tooral college votes. There were

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<v Speaker 1>some unclear writing in the in the US law about

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<v Speaker 1>the role of the vice president. This this would clarify

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<v Speaker 1>these purely ministerial ceremonial He has no power to do

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<v Speaker 1>that and to try to ward off, you know, any

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<v Speaker 1>repeat of the January six insurrections. Now this funds the

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<v Speaker 1>government for the rest of fiscal three. Um. It still

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<v Speaker 1>needs to go to the House. Do we have any

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<v Speaker 1>idea on the timetable there? Yeah? It Well, it's going

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<v Speaker 1>to It looks like it's gonna pass the House tomorrow morning,

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<v Speaker 1>Friday morning, ahead of the deadline. They'll take a while

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<v Speaker 1>for the bill to be printed on parchment as they

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<v Speaker 1>still do. It's a four thousand, one and fifty page bill. Uh,

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<v Speaker 1>maybe a little bit longer do some amendments. So there

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<v Speaker 1>will be a one week stop gap to give the

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<v Speaker 1>time to do that, and Biden will have probably next

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<v Speaker 1>week to sign this before the funding runs out. Now, Eric,

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<v Speaker 1>this this is I'm going to do pie the sky

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<v Speaker 1>with you here. Um. This was a pretty good in

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<v Speaker 1>the Senate, at least bipartisan effort, and the hope would

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<v Speaker 1>be that the two parties would maybe be able to

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<v Speaker 1>make nice nice going on some stuff forward. Uh. Does

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<v Speaker 1>this show a trend or is that just flatly Baxter naive?

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<v Speaker 1>I think it's actually the opposite. I think Senate Republicans

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<v Speaker 1>cut this deal to boost the military to seventy six

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<v Speaker 1>billion dollar increase for the for defense. Uh. Now because

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<v Speaker 1>they feel like there's going to be gridlocked, and once

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<v Speaker 1>the House Republicans take over my personal forecasts, we're gonna

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<v Speaker 1>see stopcap measures perhaps for the next two years as

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<v Speaker 1>as both sides try to try to use the budget

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<v Speaker 1>process to score policy wins. Uh you know, it's going

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<v Speaker 1>to be very rocky. There could be a government shutdown

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<v Speaker 1>when this bill expires September thirty ye, because we're seeing

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<v Speaker 1>things like, uh, you know, attempts to build a border

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<v Speaker 1>wall again, talked about defunding specific uh you know officials

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<v Speaker 1>using the appropch process, and also clawing back the eight

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<v Speaker 1>hundred billion dollars that was granted the I R S

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<v Speaker 1>to to go after wealthy tax evasion. So um, you know,

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<v Speaker 1>those things are just non starters for Democrats and could

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<v Speaker 1>just leap to gridlock. Yeah, okay, alright, well, so much

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<v Speaker 1>for positive Thank you, thank you for the reality. Eric

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<v Speaker 1>Bloomberg's Eric Watson. We appreciate your help.