Corker Gives Statement On Committee Passage Of Ukraine Aid And Sanctions Legislation

Wednesday, March 12, 2014

Senator Bob Corker on Wednesday made the following statement regarding the committee’s passage of bipartisan legislation in response to the crisis in Ukraine. The bill, which passed 14-3, will support Ukraine’s political and economic transition without adding to the debt and impose sanctions on those who threaten Ukraine’s sovereignty and territorial integrity.

“This bill cements more fully 60 years of U.S. national interests to ensure Europe remains democratic, whole and free.  I believe we’re at a defining moment right now, where our friends and allies are watching to see if we’re going to do those things that are appropriate to protect Ukraine’s sovereignty, and I think this bill absolutely meets that test,” said Senator Corker. 

The bill also implements reforms regarding U.S. participation in the International Monetary Fund that will help facilitate financial support for Ukraine without increasing U.S. financial commitments at the IMF.

“Our nation agreed to these reforms in 2010, and the crisis occurring in Ukraine is a perfect example for why we need the IMF to help Ukraine’s democratic and economic transition,” said Senator Corker.  “This measure will help ensure developing economies have a bigger share in the costs and responsibilities, so the U.S. isn’t bearing the heaviest burden when a crisis hits.”

The Sovereignty, Integrity, Democracy, and Economic Stability of Ukraine Act of 2014, which relies on appropriated funds within existing restraints on federal spending, includes the following provisions:

·        Loan Guarantees: Authorizes the State Department to provide funds for the purpose of loan guarantees for Ukraine.

·        Asset Recovery from Corrupt Ukrainian Officials: Requires the State Department and Justice Department to assist the Ukrainian government in the recovery of assets amassed by corruption Ukrainian officials, including former President Viktor Yanukovych.

·        Democracy and Governance Assistance: Authorizes $50 million for the purpose of technical, democracy, and civil society assistance for Ukraine and other Eastern Partnership countries.

·        Enhanced Security Cooperation with Ukraine and Europe: Directs the President and authorizes up to $100 million over FY 2015-17 to provide security assistance for Ukraine and other countries in Central and Eastern Europe.

·        Sanctions for Threats to Ukraine: Imposes sanctions, including visa bans and asset freezes, against persons determined to have engaged in violence or serious human rights abuses in Ukraine or activities undermining the territorial integrity of Ukraine.

·        IMF Reform: Authorizes quota reforms in the IMF that help maintain American influence in the Fund and its veto power.  U.S. financial commitments at the IMF would not increase, because while the U.S. contribution to the IMF’s main source of funding (or quota) will increase from an estimated $63 billion to $126 billion, the U.S. will reduce a corresponding $63 billion from U.S. contributions to a separate IMF account (the “New Arrangements to Borrow”) that was approved by Congress in 2009 to provide additional stability in the wake of the 2008 financial crisis.  The budgetary impact of this provision is fully offset with current year spending.


Thanksgiving Travel Forecast: Storm May Slow Early Travel As 46 Million Take To Roads

AccuWeather reports cold air will be less intense and much less widespread across the nation during the week of Thanksgiving, but there will still be a few travel trouble spots including areas of winterlike conditions and rain-related issues. In a press release by the American Automobile Association (AAA), an estimated 46.3 million people will travel 50 miles or more ... (click for more)

Fire Damages Duplex In Red Bank On Thursday

A duplex in Red Bank was damaged by fire on Thursday afternoon. At  1:10 p.m. , a 911 call was received reporting a duplex fire at 219 Clift View Drive. Red Bank firefighters responded and arrived, reporting fire pouring out the living room windows on the "A" side of the duplex. Firefighters entered the residents and quickly contained the fire to the living room area. ... (click for more)

Always Read The Fine Print - And Response

So, Chief Dodd retired before 25 years of service and is angry that he's being charged a 5 percent fee for surviving spouse benefits, even though that change was enacted prior to his retiring? Well, welcome to the real world, Mr. Dodd. Always read the fine print. City employees were also once able to carry their health insurance with them if they retired earlier than 25 years, ... (click for more)

Roy Exum: A Pre-Thanksgiving Nudge

This time next week it will be Thanksgiving and, as I was browsing on the Internet yesterday, I was absently searching for something to catch the holiday mood when I found it. In 1978 Ronald Reagan was running hard to become the President of the United States, which he became in 1981-89, and, as fate would have it, suddenly it came that time during the week when he would record ... (click for more)

Tennessee Reserves Will Play Key Roles Against Missouri

KNOXVILLE, Tenn. – Tennessee coach Butch Jones and his staff preach that every member of the Vols should practice as if they were a starter. On Saturday that mantra will benefit Tennessee. Several Vols are expected to see increased roles when the Vols take on 19 th -ranked Missouri at Neyland Stadium. Here's a look at how three Vols are progressing in their increased roles ... (click for more)

Lee Women Win NCCAA Mid-East Region Soccer Title

The Lee women's soccer team laid claim to the NCCAA Mid-East Region title for the second straight year as they defeated Campbellsville University, 4-0 on a bitterly cold Wednesday night at the Lee Soccer Field. With temperatures dropping into the thirties the Lady Flames heated things up on the field jumping out to an early lead on a goal by senior forward Kathryn Healy ... (click for more)