www.bloomberg.com Open in urlscan Pro
151.101.65.73  Public Scan

Form analysis
0 forms found in the DOM

Text Content

Skip to content
Bloomberg the Company & Its ProductsThe Company & its ProductsBloomberg Terminal
Demo RequestBloomberg Anywhere Remote LoginBloomberg Anywhere LoginBloomberg
Customer SupportCustomer Support


 * BLOOMBERG
   
   Connecting decision makers to a dynamic network of information, people and
   ideas, Bloomberg quickly and accurately delivers business and financial
   information, news and insight around the world
   
   
   FOR CUSTOMERS
   
    * Bloomberg Anywhere Remote Login
    * Software Updates
    * Manage Products and Account Information
   
   
   SUPPORT
   
   Americas+1 212 318 2000
   
   EMEA+44 20 7330 7500
   
   Asia Pacific+65 6212 1000


 * COMPANY
   
    * About
    * Careers
    * Diversity and Inclusion
    * Tech At Bloomberg
    * Philanthropy
    * Sustainability
    * Bloomberg London
    * Bloomberg Beta
    * Gender-Equality Index
   
   
   COMMUNICATIONS
   
    * Press Announcements
    * Press Contacts
   
   
   FOLLOW
   
    * Facebook
    * Instagram
    * LinkedIn
    * Twitter
    * YouTube


 * PRODUCTS
   
    * Bloomberg Terminal
    * Data
    * Trading
    * Risk
    * Indices
   
   
   INDUSTRY PRODUCTS
   
    * Bloomberg Law
    * Bloomberg Tax
    * Bloomberg Government
    * BloombergNEF


 * MEDIA
   
    * Bloomberg Markets
    * Bloomberg Technology
    * Bloomberg Pursuits
    * Bloomberg Politics
    * Bloomberg Opinion
    * Bloomberg Businessweek
    * Bloomberg Live Conferences
    * Bloomberg Radio
    * Bloomberg Television
    * News Bureaus
   
   
   MEDIA SERVICES
   
    * Bloomberg Media Distribution
    * Advertising


 * COMPANY
   
    * About
    * Careers
    * Diversity and Inclusion
    * Tech At Bloomberg
    * Philanthropy
    * Sustainability
    * Bloomberg London
    * Bloomberg Beta
    * Gender-Equality Index
   
   
   COMMUNICATIONS
   
    * Press Announcements
    * Press Contacts
   
   
   FOLLOW
   
    * Facebook
    * Instagram
    * LinkedIn
    * Twitter
    * YouTube


 * PRODUCTS
   
    * Bloomberg Terminal
    * Data
    * Trading
    * Risk
    * Indices
   
   
   INDUSTRY PRODUCTS
   
    * Bloomberg Law
    * Bloomberg Tax
    * Bloomberg Government
    * Bloomberg Environment
    * BloombergNEF


 * MEDIA
   
    * Bloomberg Markets
    * Bloomberg
      Technology
    * Bloomberg Pursuits
    * Bloomberg Politics
    * Bloomberg Opinion
    * Bloomberg
      Businessweek
    * Bloomberg Live Conferences
    * Bloomberg Radio
    * Bloomberg Television
    * News Bureaus
   
   
   MEDIA SERVICES
   
    * Bloomberg Media Distribution
    * Advertising


 * BLOOMBERG
   
   Connecting decision makers to a dynamic network of information, people and
   ideas, Bloomberg quickly and accurately delivers business and financial
   information, news and insight around the world
   
   
   FOR CUSTOMERS
   
    * Bloomberg Anywhere Remote Login
    * Software Updates
    * Manage Contracts and Orders
   
   
   SUPPORT
   
   Americas+1 212 318 2000
   
   EMEA+44 20 7330 7500
   
   Asia Pacific+65 6212 1000


US Edition

 * UK
   
 * Europe
   
 * US
   
 * Asia
   
 * Middle East
   
 * Africa
   
 * 日本
   

Sign In
Account

My Interests
 * Saved
 * My Content
 * Newsletters
 * Watchlist

Settings
 * Account
 * Subscription
 * Billing

 * Help Center
 * Sign Out

Subscribe



 * Live Now
   
   
   BLOOMBERG TV+
   
   
   BLOOMBERG TECHNOLOGY
   
   The only daily news program focused exclusively on technology, innovation and
   the future of business hosted by Ed Ludlow from San Francisco and Caroline
   Hyde in New York.
   
   
   BLOOMBERG RADIO
   
   
   BLOOMBERG MARKETS
   
   Bloomberg Markets live from New York, focused on bringing you the most
   important global business and breaking markets news and information as it
   happens.
   
   Listen
   
   --------------------------------------------------------------------------------
   
   
   BLOOMBERG ORIGINALS
   
   
   BLOOMBERG ORIGINALS
   
   Bloomberg Originals offers bold takes for curious minds on today’s biggest
   topics. Covering stories you haven’t seen and viewpoints you haven’t heard,
   you’ll discover cinematic, data-led documentaries that investigate the
   intersection of business and culture. Exploring every angle of climate
   change, technology, finance, sports and beyond, Bloomberg Originals is
   business as you’ve never seen it.
   
   
   ALSO STREAMING ON YOUR TV:
   
   
 * * Markets
     Markets
      * Deals
      * Odd Lots
      * The FIX | Fixed Income
      * ETFs
      * FX
      * Factor Investing
      * Alternative Investing
      * Economic Calendar
      * Markets Magazine
      * UK Markets Today
     
     
     BUSINESS
     
     Burger King Won’t Offer More US Plant-Based Options in Near Term
     
     
     ODD LOTS
     
     Dimensional’s Gerard O’Reilly on the Future of Fund Management
     
     
     MARKET DATA
     
      * Stocks
      * Commodities
      * Rates & Bonds
      * Currencies
      * Futures
      * Sectors
     
     View More Markets
   * Economics
     Economics
      * Indicators
      * Central Banks
      * Jobs
      * Trade
      * Tax & Spend
      * Inflation & Prices
     
     
     ECONOMICS
     
     South Africa’s Kganyago Adamant Central Bank Will Curb Inflation
     
     
     CENTRAL BANKS
     
     Cooler Jobs Market Won’t Rule Out Another Hike, Fed’s Barkin Says
     
     
     ECONOMICS
     
     BOE Official Suggests UK Unemployment May Need to Reach 6%
     
     View More Economics
   * Industries
     Industries
      * Consumer
      * Energy
      * Entertainment
      * Finance
      * Health
      * Legal
      * Real Estate
      * Telecom
      * Transportation
      * Travel
     
     
     MARKETS
     
     UBS Strategy, Telecom Cash Flow Eyed in European Earnings Next Week
     
     
     ODD LOTS
     
     Dimensional’s Gerard O’Reilly on the Future of Fund Management
     
     
     FEATURED
     
      * Business of Sports
     
     View More Industries
   * Tech
     Tech
      * AI
      * Big Tech
      * Cybersecurity
      * Startups
     
     
     DEALS
     
     Houlihan Lokey in Talks to Buy Placement Agent Triago
     
     
     TECHNOLOGY
     
     First Pakistani VC Fund  in Seven Years Targets Tech, Health
     
     
     AI
     
     Dall-E 3 Is So Good It’s Stoking an Artist Revolt Against AI Scraping
     
     View More Tech
   * AI
     AI
      * Stocks to Watch
      * Startups & Investing
      * Ethics, Law & Policy
      * Jobs & Economy
     
     
     TECHNOLOGY
     
     China Wants to Build Advanced Humanoid Robots by 2025
     
     
     AI
     
     Elon Musk Calls for AI Regulations in Chat With UK Prime Minister
     
     
     TECHNOLOGY
     
     Google and Microsoft Bet on 27-Year-Old Stanford Alum to Make AI Work For a
     Billion Users
     
     View More AI
   * Politics
     Politics
      * US
      * UK
      * Americas
      * Europe
      * Asia
      * Middle East
     
     
     POLITICS
     
     Colombia Accelerates Plan to Recover Billions in Sunken Treasure
     
     
     POLITICS
     
     Pro-Kremlin Pranksters Claim Another Win From Critics of Putin
     
     
     FEATURED
     
      * Next China
     
     View More Politics
   * Wealth
     Wealth
      * Investing
      * Living
      * Opinion & Advice
      * Savings & Retirement
      * Taxes
      * Reinvention
     
     
     INVESTING
     
     FTX Trial Fuels Frustration and Anger For Traders Who Lost Money
     
     
     REAL ESTATE
     
     Brookfield Fires Cushman on US Listings After Deal Fails
     
     
     FEATURED
     
      * How to Invest
     
     View More Wealth
   * Pursuits
     Pursuits
      * Travel
      * Autos
      * Homes
      * Living
      * Culture
      * Style
     
     
     PURSUITS
     
     ‘Free Solo’ filmmakers dive into fiction with thrilling swim drama ‘Nyad’
     
     
     PURSUITS
     
     The White House Historical Association is opening a technology-driven
     educational center in 2024
     
     
     FEATURED
     
      * Screentime
      * New York Property Prices
      * Where to Go in 2023
     
     View More Pursuits
   * Opinion
     Opinion
      * Business
      * Finance
      * Economics
      * Markets
      * Politics & Policy
      * Technology & Ideas
      * Editorials
      * Letters
     
     
     HOWARD CHUA-EOAN | COLUMNIST
     
     Taylor Swift’s Deep Fake Diplomatic Counsel
     
     
     ADAM MINTER | COLUMNIST
     
     Michigan’s Sign-Stealing Scandal Shouldn’t Be One at All
     
     
     LIONEL LAURENT | COLUMNIST
     
     Sam Bankman-Fried Won't Be the Last Crypto Mogul Behind Bars
     
     View More Opinion
   * Businessweek
     Businessweek
      * The Bloomberg 50
      * Best B-Schools
      * Small Business Survival Guide
      * 50 Companies to Watch
      * Good Business
      * Subscribe to the Magazine
     
     
     THE SHOW
     
     Why ‘Ambition’ Is Sometimes a Dirty Word, on The Businessweek Show
     
     
     BLOOMBERG NEW ECONOMY
     
     Brazil Once Pioneered Generic Drugs, and Then Came a Patent War
     
     
     BLOOMBERG NEW ECONOMY
     
     Online Gambling Has Millions of Young Africans Battling Addiction
     
     View More Businessweek
   * Equality
     Equality
      * Corporate Leadership
      * Capital
      * Society
      * Solutions
     
     
     EQUALITY
     
     Nascar Accused of Bias Against White Men in Its Diversity Efforts
     
     
     EQUALITY
     
     Abortion on Ohio Ballot Seen as Test of Key 2024 Election Issue
     
     
     FEATURED
     
      * In Trust Podcast
     
     View More Equality
   * Green
     Green
      * New Energy
      * ESG Investing
      * Weather & Science
      * Climate Politics
      * Greener Living
      * Cleaner Tech
     
     
     GREEN
     
     Iceland’s Blue Lagoon on Alert for Magma Flows After Earthquakes
     
     
     GREEN
     
     Dominion Sees Cheaper Wind Power at Massive Offshore Project
     
     
     FEATURED
     
      * Data Dash
      * Hyperdrive
     
     View More Green
   * CityLab
     CityLab
      * Design
      * Culture
      * Transportation
      * Economy
      * Environment
      * Housing
      * Justice
      * Government
      * Technology
     
     
     CITYLAB
     
     NYC’s $16.1 Billion Tunnel to NJ Kicks Off Construction After Decades of
     Delays
     
     
     DESIGN
     
     Artifacts of a Lost St. Louis
     
     
     TRANSPORTATION
     
     Americans Are Walking 36% Less Since Covid
     
     View More CityLab
   * Crypto
     Crypto
      * Decentralized Finance
      * NFTs
      * Regulation
      * Technology
     
     
     CRYPTO
     
     SBF Tops a Long List of Crypto Hot Shots Facing Legal Reckoning
     
     
     CRYPTO
     
     SEC Presses Ahead in Civil Case Against Terraform Labs and Co-Founder Do
     Kwon
     
     
     TECHNOLOGY
     
     Red-Hot Crypto Rebound Cools as Bankman-Fried Is Found Guilty
     
     View More Crypto
 * More
   
   --------------------------------------------------------------------------------
   
   
   
   





Politics


HOUSE PASSES ISRAEL AID TIED TO IRS CUTS, TRIGGERING BIDEN CLASH

 * Senate preparing broader aid plan including Ukraine, Taiwan
 * Democrats oppose cuts to tax enforcement that boost deficit

FacebookTwitterLinkedInEmailLink
Gift
Video Player is loading.
Play Video
Play
Unmute

Current Time 0:00
/
Duration 0:00
Loaded: 0%


Progress: 0%
Stream Type LIVE
Remaining Time -0:00
 
Playback Rate
 * 2x
 * 1.5x
 * 1.25x
 * 1x, selected
 * 0.75x
 * 0.5x

1x
Chapters
 * Chapters

Captions
 * captions settings, opens captions settings dialog
 * captions off, selected

Fullscreen

This is a modal window.



Beginning of dialog window. Escape will cancel and close the window.

TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaque
Font Size50%75%100%125%150%175%200%300%400%Text Edge
StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional
Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall
Caps
Reset restore all settings to the default valuesDone
Close Modal Dialog

End of dialog window.



House Passes $14 Billion Israel Aid Package
House Passes $14 Billion Israel Aid Package
Unmute



House Passes $14 Billion Israel Aid Package
FacebookTwitterLinkedInEmailLink
GiftGift this article
Have a confidential tip for our reporters? Get in Touch
Before it’s here, it’s on the Bloomberg Terminal
Bloomberg Terminal LEARN MORE
FacebookTwitterLinkedInEmailLink
Gift
By Erik Wasson
November 2, 2023 at 10:52 PM GMT+1
Updated on
November 3, 2023 at 1:33 AM GMT+1
BookmarkSave

Listen

3:40

House Republicans, led by newly installed Speaker Mike Johnson, passed a $14.3
billion Israel aid package tied to cuts in IRS funding, triggering a clash with
Democrats over tax law enforcement that risks delaying US financial help.

Lawmakers from both parties are largely united in supporting assistance for
Israel in its war against Hamas. But approval of the aid is now wrapped up in
fights over other emergencies such as Ukraine aid, conservative demands to cut
domestic spending and partisan disagreements over taxation.



The House passed the aid package 226 to 196 on Thursday, with most Democrats
opposing the measure because of the cuts to the Internal Revenue Service. The
White House threatened to veto the bill over the provision, which the
non-partisan Congressional Budget Office forecast would cost the federal
government $27 billion in revenue lost to tax cheaters.



Johnson was able to keep fractious ultraconservatives in the GOP largely united
behind the plan by including the IRS cuts. Just two Republicans voted no. Twelve
Democrats voted in favor of the legislation.

Senate Majority Leader Chuck Schumer, a New York Democrat, vowed Thursday that
the Senate won’t vote on the House bill and instead will produce a broader
emergency package without cuts to the IRS.

“We will work together on our own bipartisan emergency aid package that includes
aid to Israel, Ukraine, competition with the Chinese government, and
humanitarian aid for Gaza,” Schumer said.

That risks a time-consuming impasse with the Republican-controlled House.

Johnson told reporters before the House vote that he would insist on the IRS
cuts because of the growing US budget deficit.

“We are in dire straits as a nation,” he said. “I’m ready to have that debate.”

The new speaker and his Republican allies disputed a CBO estimate that the IRS
provisions would increase the deficit by $12.5 billion.



They argued the IRS would unfairly target the middle class with funding for tax
enforcement included in President Joe Biden’s signature Inflation Reduction Act.
Treasury Secretary Janet Yellen last year ordered the agency not to use the
money to increase audits on small businesses or taxpayers making less than
$400,000 a year.

Yellen, in an interview on CNN Thursday night, said she considered the House
measure “an irresponsible bill.”

“The only gainers from that are wealthy tax cheats and corporations that will
pay fewer taxes that they owe, because the IRS will be deprived of $14 billion
of money for tax enforcement,” Yellen added.

Read More: Biden’s Road Trip Exposes Democratic Fault Lines on Israel

Swing-district Republicans, however, said the fight was good politics for them
against the Democrats.

“If they want to choose the IRS over Israel that’s their choice. I choose
Israel,” said New York’s Marc Molinaro.

The Biden administration last month requested a $106 billion emergency aid
package that included the Israel assistance along with funding for Ukraine,
Taiwan and humanitarian relief in Gaza and Israel. It also proposed $56 billion
in emergency domestic funds that many Democrats want attached to the package.

Many House Republicans, including the new speaker, have previously opposed
Ukraine aid.

Johnson said the House will vote on Ukraine aid as soon as next week in a
separate package joining it to US border enforcement measures favored by
Republicans.

Senate Democrats and Republicans are preparing to release their own emergency
spending bill as soon as next week. Senate Minority Leader Mitch McConnell, a
Kentucky Republican who is a long-time supporter of assistance to Ukraine, said
assisting the country’s counter-offensive against Russia is a critical national
interest.



“We don’t have the luxury of closing our gates and hoping for evil to leave us
alone,” he said. “Now is not the time for the leader of the free world to go to
sleep.”



— With assistance by Steven T. Dennis and Billy House

(Updates with Yellen, starting in 12th paragraph.)

LinkCopy Link
Follow all new stories by Erik Wasson
Plus FollowingPlus Get AlertsPlus Get Alerts
Twitter


FacebookTwitterLinkedInEmailLink
Gift
BookmarkSave
Have a confidential tip for our reporters? Get in Touch
Before it’s here, it’s on the Bloomberg Terminal
Bloomberg Terminal LEARN MORE





Terms of ServiceManage CookiesTrademarksPrivacy Policy©2023 Bloomberg L.P. All
Rights Reserved.
CareersMade in NYCAdvertiseAd ChoicesHelp




Get unlimited access today.Explore Offer Arrow Right
Chevron Down
Subscribe now for unlimited access to Bloomberg.com and the Bloomberg app
Global news that uncovers a new tomorrow. Cancel anytime.
Get uninterrupted access to global news. Cancel anytime.
Claim This Offer