Business & Economy

Business & Economy

The Big Story 

The Treasury secretary said the country can afford to provide military aid to each country as a “priority” for the nation.

© AP Photo/Hau Dinh

“America can certainly afford to stand with Israel and to support Israel’s military needs, and we also can and must support Ukraine in its struggle against Russia,” Yellen told Britain’s Sky News on Monday. 

In a recent “60 Minutes” interview, President Biden also dismissed the idea that the U.S. could not simultaneously support both Israel in its war against Hamas and Ukraine in its war against Russia.

Arguing both conflicts impact the safety of the American people, Biden said the U.S. can “take care of both of these and still maintain our overall national defense.” 

The comments come as lawmakers in both parties have been pushing for further aid to Ukraine and a supplemental funding package for Israel. 

Senate Majority Leader Chuck Schumer (D-N.Y.) said Monday the Senate must “go first” in passing aid for Israel as the GOP-led House works to unify amid a vacancy in the Speaker’s chair. 

“We want to move this package quickly,” Schumer said before pointing to “disarray” in the House as Republicans struggle to unify behind a new leader.

The Biden administration has sought more aid for Ukraine for months, but has been foiled amid chaos and objections among House Republicans.

The Hill’s Miranda Nazzaro has more here.  

Welcome to The Hill’s Business & Economy newsletter, we’re Aris Folley and Taylor Giorno — covering the intersection of Wall Street and Pennsylvania Avenue.

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