NEWS ALERT: Biden administration quietly attempting to forgive BILLIONS in economic loans to Ukraine

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From Fox News: The Biden administration told Congress it plans to cancel $4.65 billion in debt owed by Ukraine, approximately half of an economic loan offered earlier this year.

State Department spokesperson Matthew Miller confirmed the plans in a briefing on Wednesday. “So we have taken the step that was outlined in the law to cancel those loans, provide that economic assistance to Ukraine,” he said.

In April, Congress passed a supplemental funding package that earmarked $60 billion worth of aid for Ukraine, including $9 billion structured as a loan, with a provision that allowed the administration to forgive it, according to Miller.

Miller added that Congress could pass a resolution of disapproval to overturn the cancellation. Rep. Thomas Massie, R-Ky., introduced such a resolution on Wednesday night. Sen. Rand Paul, R-Ky., immediately said he would introduce a resolution to block the measure.

However, with Democrats currently controlling the Senate, any efforts to block the Biden administration from moving forward to ‘forgive’ the loan are likely futile, and Biden would just veto it even if a resolution did pass.

The loan “forgiveness” provision had already been built in. The report explains: The supplemental funding package gave the administration the power to forgive 50% of the loan, and the remaining 50% could be forgiven after January 2026.

Rep. Massie fumed, “On his way out, Joe Biden is trying to forgive $4.65 billion of debt Ukraine owes America’s taxpayers. I just introduced H.J.Res 224 to stop this “America Last” policy from taking effect.”

Sen. Rand Paul voiced his fury in a speech from the Senate floor, and declared, “Americans all across the United States are grappling with high prices and their own debt thanks to four years of the Biden-Harris Administration, all while the U.S. national debt has hit a record $36 trillion, and we cannot afford a $4.65 billion dollar gift to Ukraine. Senators who vote against my resolution today will be sending a message to all Americans that they clearly prioritize Ukraine over the people they represent and are for putting America last.”

Sen. Mike Lee (R-Utah) also announced, “After misleading the American people on the nature of our aid to Ukraine, Joe Biden is giving their money away, unilaterally “forgiving” $4.7 billion they borrowed. Last night, I stood with @SenRandPaul and condemned this sellout of American taxpayers.”

“This money is not Joe Biden’s to give away. It belongs to the American people. “It’s just a loan” was always a lie,” Lee added.

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