Speaker Johnson wants to pay for Ukraine aid with seized Russian assets

[RAY BOGAN]

House Speaker Mike Johnson says he will bring a Ukraine aid bill forward when Congress returns from their Easter recess next week. Johnson says the bill has to be bipartisan because the Republican majority is so thin. If the GOP tries to pass a measure on their own, they can only lose one vote. 

But the Senate passed a $95 billion dollar package for Ukraine and Israel in mid-February which Johnson refused to bring up. 

So what changed? Lawmakers believe they now have better ways to pay for it. 

Congress could pass the REPO Act, which gives the President the authority to confiscate Russian assets subject to US jurisdiction and deposit them in the Ukraine Support Fund. The REPO Act already passed the Senate and appears to have growing support in the House. 

Speaker Mike Johnson, R-LA:

“If we can use the seized assets of Russian oligarchs to allow the Ukrainians to fight them, that’s just pure poetry.” 

[RAY BOGAN]

The Department of Justice has worked to do something similar since the war began through Task Force KleptoCapture. The DOJ has restrained, seized, and obtained judgments to forfeit nearly $700 million from Russian oligarchs and others who have helped fund the war. 

That includes mega-yachts and millions in real estate at a Ritz Carlton near Miami. 

Lawmakers are also considering making the aid a loan which would eventually be paid back if or when Ukraine is able. Republicans in both the House and Senate have expressed support for such a measure. 

Sen. Lindsey Graham, R-S.C.:

“To our friends in Ukraine, we want to be there for you. But we’re $34 trillion in debt. Let’s make it a loan, pass it back when you can, if you can.” 

[RAY BOGAN]

Democrats wanted to write Ukraine a check without extra funding measures. But Ukraine is running so low on ammunition and resources that the Democratic Chairman of the Senate Foreign Relations Committee now says he’d consider it. 

Sen. Ben Cardin, D-MD:

“We’ve got to get help to Ukraine. If it starts as a loan, if we can’t do anything other than that, we might have to consider that. But this is in our national security interests.”

[RAY BOGAN] 

The New York Times is also reporting that a Ukraine aid package could also be tied to a measure that would reverse President Biden’s moratorium on new permits for liquified natural gas export facilities. That would give Republicans a political win on what has been a very divisive issue for the party. Straight from DC, I’m Ray Bogan.