News

: Biden presses Congress to approve extra Ukraine aid as he says U.S. taxpayers are ‘contributing to freedom’

0

President Joe Biden on Tuesday pressed Congress to back his request for extra aid to Ukraine, as he toured an Alabama factory that makes weapons the U.S. has given to that country to help it defend itself against Russia’s invasion.

“I urge the Congress to pass this funding quickly to help Ukraine continue to succeed against Russian aggression,” said Biden, following a tour of a Lockheed Martin
LMT,
+1.14%

plant in Troy, Ala.

Read: Biden asks Congress for additional $33 billion in Ukraine aid: ‘We have to do our part’

After being introduced by a Lockheed employee, Biden said: “Every worker in this facility, and every American taxpayer, is directly contributing to the case for freedom.”

The president also pushed lawmakers to pass legislation that would help the U.S. compete with China, and boost the semiconductor
SMH,
+0.70%

industry, noting that chips are critical to producing defense equipment.

“Let’s get it done,” Biden implored.

Also see: A sticking point in China competition bill: what to do about fake products

The White House said the Lockheed facility makes weapons systems such as Javelin anti-tank missiles, “which the Biden-Harris Administration has been providing Ukraine and the Ukrainians have been effectively using to defend their country against the Russian invasion, including to win the Battle for Kyiv.”

The facility Biden toured has made more than 50,000 Javelin missiles over the last 20 years and employs about 600 employees, according to the White House.

U.S. stocks
DJIA,
+0.31%

on Tuesday were rising ahead of what is expected to be the most aggressive Federal Reserve monetary policy tightening in two decades.

Read: Market Snapshot

The Wall Street Journal: Roku and Apollo Global team up to bid for minority stake in cable channel Starz

Previous article

Earnings Results: Herbalife executives cut forecast, point fingers at newest ‘distributors’ as stock heads for 2-year low

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in News