Business mogul Kevin O’Leary wants to invest in a US refinery, says fossil fuels will stick around
April 13, 2023
House Democrats stripped the Iron Dome Israel defense of $1 billion in funds in the passing of a stopgap bill. Before the relocation, the funds would contribute to restocking the Israeli military’s stockpile after it was depleted during a major conflict with Palestine and Hamas earlier this year.
By using the U.S.-subsidized Iron Dome missile defense system, Israel was able to shoot down many rockets from Gaza. House Rules Chairman James McGovern suggested the $1 billion will be transferred to the upcoming annual defense funding bill. However, the Biden administration vowed to restock Israel’s stockpile despite the lack of funding.
The decrease in defense funds supported the bill’s effort to avert a government shutdown and increase the national debt ceiling. The House of Representatives passed the federal funding bill in a last-resort attempt after a skyrocketing national debt. In a so-called “continuing resolution,” the House also approved billions of dollars to aid Afghanistan refugees, nearly 40,000 of which recently entered the states.
Although the bill provides a government solution, for the time being, it fails to address America’s towering national debt which currently stands at $28 trillion. Between millions spent in recent COVID-19 induced stimulus checks and the trillion-dollar infrastructure package, the stability of the US economy is under attack.
The 93-page act is dubbed the ‘‘Extending Government Funding and Delivering Emergency Assistance Act,” and stretches until the end of the fiscal year on September 30th, 2022.
ARTICLE: ANTOINETTE AHO
MANAGING EDITOR: CARSON CHOATE
PHOTO CREDITS: AXIOS