Dr. Rand Paul Forces Senate Vote to Stop Biden Administration from Making Ukraine’s Debt America’s

FOR IMMEDIATE RELEASE:

November 20, 2024

Contact: [email protected], 202-224-4343

Dr. Rand Paul Forces Senate Vote to Stop Biden Administration from Making Ukraine's Debt America's

WASHINGTON, D.C. - Today, U.S. Senator Rand Paul (R-KY) forced a vote in the U.S. Senate on his joint resolution of disapproval (S.J.Res.117) to stop the Biden Administration from making Ukraine's debt the responsibility of the American people.

Specifically, the joint resolution of disapproval would have prohibited the Biden Administration's cancellation of $4.65 billion of debt owed by Ukraine to U.S. taxpayers. The Biden Administration's proposal shifts the burden of funding Ukraine's small businesses, farmers, and corrupt bureaucrats onto the backs of hardworking Americans, who are already suffering during a time of high inflation.

You can read S.J.Res.117 HERE.

Dr. Paul spoke on the Senate floor ahead of the vote, you can watch his remarks HERE and read them as prepared below.

"Here we go again with the Ukraine First, America Last policy.

"Earlier this week President Biden delivered a report to Congress informing us that he intends to cancel 50 percent, or $4.65 billion, of the total indebtedness incurred by Ukraine with respect to economic assistance provided by the United States.

"These funds were provided by the American taxpayer in the form of loans with the expectation that they would be repaid. President Biden's plan to cancel this debt comes at a time when the United States itself is over $36 trillion in debt and Americans across the country struggle with the burden of high inflation due to this administration's disastrous policies.

"Such blatant disregard of American citizens is unacceptable. The Joint Resolution of Disapproval before us today provides the Senate an opportunity to prevent the President from canceling this debt and show the American people that we will not stand idly by as the President elevates the interests of a foreign country above theirs.

"Let me remind President Biden that he took an oath to represent Americans not Ukrainians. And let me remind President Biden that due to his failed policies over the last four years Americans across this country are struggling.

"Today, some 37 million Americans live under the poverty line, including 9 million children. 50 percent of Americans say they are living paycheck to paycheck. 8 out of every 10 Americans who earn less than $50,000 a year are unable to cover their future bills until their next paycheck arrives.

"Americans are working two, sometimes three jobs just to make ends meet. And while millions of Americans work day-in and day-out to pay off their own personal loans, President Biden wants to forgive Ukraine's economic loans without any debate in Congress.

"The American people have been more than generous when it comes to supporting Ukraine. In the nearly three years since the Russo-Ukraine war broke out, Congress has approved a staggering $183 billion in Ukraine related aid.

"And for three years the American people have been sold the lie that if we only send tens of billions more of their dollars to Ukraine, that Ukraine would be able to push the Russians out, secure its 2014 borders, and achieve victory on the battlefield.

"Such assertions were always farcical as they failed to contend with basic battlefield realities. Despite massive assistance provided by the United States and others, Ukraine is no better off than they were nearly three years ago.

"In fact, Ukraine is now in a worse negotiating position because they've likely incurred hundreds of thousands of casualties and now face a critical manpower shortage. And that shortage is becoming impossible to ignore as Russia consolidates its gains and continues to make steady progress in eastern Ukraine.

"Americans may be surprised to discover that their aid has not in fact shifted the war in Ukraine's favor. They may also be surprised to learn that much of their money Congress sent to Ukraine isn't actually being used to support Ukraine's military.

"While American families struggle to put food on the table and keep the lights on, U.S. taxpayers are paying for the salaries of thousands of Ukrainian government bureaucrats, to pay for teachers, healthcare workers and first responders, to buy seeds and fertilizers for Ukrainian farmers, and to bankroll Ukrainian small businesses.

"A report conducted earlier this year found that 43 percent of small businesses in America were unable to pay their rent in full and on time in the month of April. Yet, we're sending billions of dollars to Ukraine to keep their small businesses afloat.

"A report by CBS news discovered that U.S. taxpayers are helping a Ukrainian knitwear company find new international customers overseas. But we don't even need independent journalism to highlight such absurdities. USAID bragged on their own website about how they provided funding for six Ukrainian fashion brands to participate in Paris Fashion week.

"This is what we're asking the American people to pay for? I've never had any constituents in Kentucky plead with me to send more money to Ukraine so that fashion companies can go to Paris, and I'm confident that none of my colleagues have either.

"That's bad enough, but it's also impossible to ensure our money actually gets to these misguided priorities. The Government Accountability Office admits that "there are a number of ways in which federal agencies could improve oversight" of aid to Ukraine.

"It's been three years, why hasn't the government improved its oversight? Well, because it is impossible to send so much aid to a country as quickly as we have and expect there to be no waste, fraud, and abuse.

"I forced the Senate to vote on a Special Inspector General for Ukraine and the Ukraine First uniparty voted it down.

"Even with a Special Inspector General, it is nearly impossible to ensure oversight of this much aid to any country.

"Adding insult to injury, Ukraine is consistently ranked as one of the most corrupt countries in the world. Transparency International ranks Ukraine 104th out of 180 countries in 2023 and also found that 23 percent of public service users paid a bribe in the previous 12 months.

"And now, despite all this, President Biden wants to forgive over $4.6 billion in loans, that U.S. taxpayers provided under the auspices that they would be repaid.

"This lunacy is just another example of how the Washington establishment is completely out of touch with everyday Americans.

"The election earlier this month made it eminently clear that the American people are sick and tired of the status quo. They're sick and tired of business as usual in Washington, and they want their elected officials to deliver real change.

"It's fitting that in the final months of his disastrous presidency, Joe Biden caps off his "foreign policy for the middle class" by seeking to cancel over $4.6 billion in debt for Ukraine-once again prioritizing the interests of a foreign country at the expense of our own.

"I urge my colleagues to vote in support of this resolution to prevent the President from canceling Ukraine's debt and to put the American people first."

###