Market Data 
By Patricia Zengerle and Richard Cowan
WASHINGTON (Reuters) -Billions of dollars in foreign aid for Ukraine, Israel and Taiwan should easily win approval in the U.S. Senate this week, after the House of Representatives abruptly ended a months-long stalemate and approved the assistance in a rare Saturday session.
The Senate on Tuesday will take up the package of four bills passed by the House, one providing $61 billion for Ukraine, a second with $26 billion for Israel, a third with $8.12 billion “to counter communist China” in the Indo-Pacific and a fourth that includes a potential ban on the social media app TikTok, measures for the transfer of seized Russian assets to Ukraine and new sanctions on Iran.
The package could pass the Democratic-led Senate as soon as late Tuesday. Democratic President Joe Biden has promised to sign it quickly into law.
Two U.S. officials told Reuters the administration was already preparing a $1 billion military aid package for Ukraine, the first to be sourced from the bill.
That would clear the way for shipments of military assistance to Ukraine within days, boosting morale for its troops fighting Russian invaders. The influx of weapons should improve Kyiv’s chances of averting a major Russian breakthrough in the east, analysts said, although it would have been more helpful if the aid had come closer to when Biden requested it last year.
“I ask my colleagues to join together to pass the supplemental today as expeditiously as possible, send our friends abroad the aid they have long been waiting for,” Senate Democratic Majority Leader Chuck Schumer said in a speech as the Senate opened.
As he urged support, Republican leader Mitch McConnell said failing to support allies emboldened rivals like China and Russia, and denounced isolationism. “Today, the Senate sits for a test on behalf of the entire nation. It’s a test of American resolve, our readiness, and our willingness to lead,” he said.
It was not immediately clear how the money for Israel would affect the conflict in Gaza – Israel already receives billions of dollars in security assistance from the United States. The package includes humanitarian assistance, which supporters hope will help Palestinians in Gaza.
HUMANITARIAN CONCERNS
The Israel bill passed the House by an overwhelming 366 to 58 – with 21 Republicans and 37 Democrats opposed. The Republican “no” votes came from hardliners who generally oppose foreign aid. Democrats who voted no said they wanted more done to ease the devastating humanitarian toll of Israel’s campaign in Gaza as it retaliates for the Oct. 7 attacks by Hamas fighters that killed 1,200 people and resulted in around 250 being taken hostage.
The Israeli military assault that followed those attacks has killed more than 34,000 people in Gaza, according to Gaza health authorities.
The Senate passed security aid for Ukraine, Israel and the Indo-Pacific more than two months ago, with support of 70% of the 100-member chamber, both Republicans and Democrats.
The White House said Biden told Ukrainian President Volodymyr Zelenskiy in a phone call on Monday that his administration would provide new security assistance “to meet Ukraine’s urgent battlefield and air defense needs” as soon as he signs the supplemental spending bills into law.
The legislation’s progress has been closely watched by industry, with U.S. defense firms up for major contracts to supply equipment for Ukraine and other U.S. partners. Backers of the foreign assistance stress that approving the Ukraine bill would create many American jobs.
Experts expect the supplemental spending to boost the order backlog of RTX along with other major companies that receive government contracts, such as Lockheed Martin (NYSE:), General Dynamics (NYSE:) and Northrop Grumman (NYSE:).
Congressional aides said the funding for Ukraine includes $8 billion in Presidential Drawdown Authority, which lets Biden send equipment to Ukraine from U.S. stocks.
The House passed the Ukraine funding by 311-112, with all 112 “no” votes coming from Republicans, many of whom were bitterly opposed to providing further assistance to Kyiv. Only 101 Republicans voted for it, forcing Speaker Mike Johnson to rely on Democratic support and prompting calls for his ouster as House leader.
However, the House left Washington for a week-long recess, without triggering a vote to remove Johnson.
