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That funding authorization is on top of the underlying bill’s fiscal 2023 through fiscal 2026 authorization of $4.5 billion in FMF funding for Taipei to use to buy more U.S. weapons.
Schumer pledged to move ahead with a procedural vote Tuesday afternoon on legislation that would, at minimum, fund semiconductor manufacturing grants and tax incentives through 2026.Â
Brainard’s term on the board and as vice chair expires in 2026. Niels Lesniewski contributed to this report.
Democrats included a temporary solution, delaying the shift from this year to the start of 2026, in their $2.2 trillion climate and social safety net bill.
Medicare is probably more costly in the long run and has an even earlier trust fund exhaustion date, in 2026.
The amendment would authorize $500 million a year from fiscal 2022 through fiscal 2026 in the form of foreign military financing so Ukraine can buy U.S.-made weapons.
Spending drops sharply after 2026, when only full refundability would remain in place. About $13 billion of that cost would be for keeping it fully refundable in the second half of the decade.