House Republicans consider a loan program for some Ukraine aid

Source: Yahoo! News/NBC News

Fri, March 8, 2024 at 8:56 PM EST


WASHINGTON — House Speaker Mike Johnson, R-La., and the chairmen of key House committees dealing with national security are working to develop their own Ukraine aid package, an alternative that they hope can pass Congress without alienating conservatives who oppose further funding for the war-torn country.

The plans are in their preliminary stages and far from fully formed, three sources told NBC News, but Republicans who support Ukraine want to be prepared to tackle the legislation as soon as Congress clears another government shutdown deadline on March 22. Waiting any longer could push passage of critical aid for Ukraine into April, given a planned two-week congressional recess at the end of March, two sources said.

Among the proposals being floated is treating some of the nonmilitary aid as a type of loan, said House Foreign Affairs Chairman Mike McCaul, R-Texas, who is involved in the discussions, and Sen. Lindsey Graham, R-S.C. Economic aid to support the general function of Ukraine’s government and its long-term rebuilding efforts would be subject to a loan under this plan.

Russian assets seized by the U.S. government through sanctions could also be used as collateral for loans to the Ukrainians, McCaul said, adding that the plan could also have a generous repayment system to help Ukraine.

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