{"id":36395,"date":"2023-10-26T20:15:03","date_gmt":"2023-10-26T20:15:03","guid":{"rendered":"https:\/\/prosfunds.com\/news\/biden-wants-an-extra-162-billion-from-congress-heres-how-it-could-go-with-new-house-speaker-johnson\/"},"modified":"2023-10-26T20:15:05","modified_gmt":"2023-10-26T20:15:05","slug":"biden-wants-an-extra-162-billion-from-congress-heres-how-it-could-go-with-new-house-speaker-johnson","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=36395","title":{"rendered":"Biden wants an extra $162 billion from Congress. Here\u2019s how it could go with new House Speaker Johnson."},"content":{"rendered":"
\n

New House Speaker Mike Johnson faces a Nov. 17 deadline for passing a funding bill to avert a partial U.S. government shutdown, but it\u2019s not his only pressing money matter.<\/p>\n

The just-promoted Louisianan and his Republican-controlled chamber of Congress also are facing a request from President Joe Biden for a total of $162 billion in supplemental spending \u2014 $106 billion for Israel, Ukraine and the U.S. southern border plus $56 billion for domestic priorities such as disaster relief, child care and high-speed internet
\n FDN.<\/span>\n <\/p>\n

\n

So how could it go for these asks from the Democratic president?<\/p>\n

Israel aid likely, Ukraine is tougher sell <\/h2>\n

\u201cPolitical and related duration factors favor Israel to receive the full request. The outlook for Ukraine is not as positive,\u201d said 22V Research\u2019s Kim Wallace and Sandra Namoos in a note Thursday, referring to the $14 billion sought for Israel and the $61 billion proposed for Ukraine.<\/p>\n

\u201cGrowing GOP opposition to funding levels already allocated Kyiv and Americans\u2019 generally low long-term tolerance for foreign wars all but guarantee changes to the Administration\u2019s request,\u201d the 22V team added on Ukraine. \u201cSpeaker Johnson reportedly told his conference that Ukraine assistance is important but needs expenditure controls and close auditing to receive his support.\u201d<\/p>\n

Biden is trying to sweeten his pitch for aid for Ukraine\u00a0by mixing in $14 billion for securing the U.S. southern border in the hope that it will bring more Republicans on board, but it\u2019s not at all clear that will work, as the AP has noted.<\/p>\n

Disaster aid could have the best prospects <\/h2>\n

Biden\u2019s domestic proposal, announced Wednesday, includes $24 billion for disaster response and related matters, $16 billion to support the child-care sector after its pandemic funding expired Sept. 30, $6 billion to extend free or discounted high-speed internet for low-income households and other smaller requests.<\/p>\n

Analysts aren\u2019t sounding upbeat on this proposal\u2019s prospects.<\/p>\n

\u201cOutside of the funds for natural disasters, we do not see a clear path
forward on the other funds,\u201d said TD Cowen Washington Research Group\u2019s Chris Krueger in a note Thursday, while Greg Valliere of AGF Investments described the president\u2019s proposal as \u201cdead on arrival.\u201d<\/p>\n

Now read:<\/strong> As Mike Johnson becomes House speaker, analyst puts risk of government shutdown at 20% to 30%<\/p>\n

And see:<\/strong> Biden says he\u2019s not worried House Speaker Johnson will try to throw out election results<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

New House Speaker Mike Johnson faces a Nov. 17 deadline for passing a funding bill to avert a partial U.S. government shutdown, but it\u2019s not his only pressing money matter. The just-promoted Louisianan and his Republican-controlled chamber of Congress also are facing a request from President Joe Biden for a total of $162 billion in […]<\/p>\n","protected":false},"author":1,"featured_media":36396,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[38],"tags":[],"class_list":{"0":"post-36395","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"\nBiden wants an extra $162 billion from Congress. 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