Rep. Rich McCormick, R-Ga., told Newsmax on Monday that instead of making American taxpayers help fund Ukraine's war effort against Russia, Moscow should be forced to pay for Ukraine's needs while reimbursing the U.S. for much of the $113 billion it has provided to Kyiv.
McCormick, a member of the House Foreign Affairs Committee, on Wednesday introduced a bill called the "Make Putin Pay Act," which would authorize the seizure of all assets tied to Russian President Vladimir Putin or owned by the Russian government to reimburse the U.S. for expenses related to Ukraine's war effort and to pay for future aid.
"We've frozen Russian assets both internationally and the United States," McCormick told "American Agenda." "About $100 billion here in the United States, over $330 billion-plus worldwide. I just got back from Copenhagen, and in Copenhagen we actually just pushed legislation forward that requires all U.N. participants to use the money that was frozen from Russia to use against Russia in the Ukrainian efforts, and if their laws don't support that, to change their laws so that it will support that.
"Here in America, my bill would actually use the money from Putin's regime to fund the war overseas, which is over $100 billion that would be used. Oh, by the way, not only is that money going to be used to fight against Russia, but also that money comes back to the United States. It buys things from the United States to support the war, so it benefits us in two different ways."
McCormick's bill is similar to legislation introduced by Rep. Stephanie Bice, R-Okla., in February. Bice, a fellow member of the Foreign Affairs Committee, introduced the "Make Russia Pay Act," which would direct the Treasury Department to liquidate all Russian assets seized by the U.S. and deposit the funds into a Ukrainian Humanitarian Aid fund established by the bill.
The Treasury Department could then use the funds to assist Ukraine, including by providing funding to Ukraine's government for humanitarian and security assistance. Unlike McCormick's bill, it does not call for the U.S. to be reimbursed for money it has provided Kyiv.
"It is imperative that Russia pay the consequences for their invasion of Ukraine," Bice said in March in a news release. "This legislation essentially acts as a Marshall Plan, where the funds seized from Russian assets will be used to aid Ukrainian refugees, help provide for Ukraine's defense and humanitarian needs, and rebuild destroyed infrastructure.
"The United States must take action against the Russian war machine and hold Putin and his oligarchs accountable. I am grateful for the support of my colleagues on this important legislation."
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Michael Katz ✉
Michael Katz is a Newsmax reporter with more than 30 years of experience reporting and editing on news, culture, and politics.
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