Two senior Senate Republicans have unveiled legislation that would enable European allies to finance US weapons donations to Ukraine, providing the most detailed framework yet for President Trump’s proposal to shift war funding to Europe, The Wall Street Journal reported on 30 July.

The Peace Act, proposed by Sens. Roger Wicker (R-Miss.) and Jim Risch (R-Idaho), would establish a Treasury fund to accept money from allies, allowing the Defense Secretary to pay contractors to replenish US stockpiles while continuing weapons shipments to Ukraine without compromising American military readiness, according to GOP aides familiar with the proposal.

The legislation aims to generate $5 billion to $8 billion annually, with Germany and the United Kingdom identified as likely contributors, the aides said.

“This is the fastest way to arm Ukraine as well as to minimize the strategic and military threat posed by Russia to the US and NATO,” Wicker said, according to the WSJ.

The proposal comes as Trump has grown increasingly frustrated with Russian President Vladimir Putin’s rejection of US-led cease-fire efforts. After initially giving Putin a 50-day deadline for a cease-fire, Trump moved that deadline up to 10 days on 28 July, threatening Russia and its trading partners with new tariffs and secondary sanctions if Moscow refuses to negotiate.

Wicker, who chairs the Senate Armed Services Committee, and Risch, who leads the Senate Foreign Relations Committee, have discussed the legislation with the White House, which has been “largely receptive to the idea,” aides said. The plan involves passing the measure later this year as part of the annual defense policy bill.

The mechanism would complement existing European payments to US contractors for new weapon production, which can take years to complete. The Peace Act would accelerate delivery by tapping existing US inventories, according to the WSJ report.

The US has provided nearly $66 billion in security assistance to Ukraine since Russia’s 2022 invasion, but the Republican-led Congress shows little appetite for authorizing additional foreign aid packages.

Trump has approximately $3.85 billion in previously authorized drawdown authority remaining, though he has not yet used this tool to send new arms packages to Ukraine. His administration continues delivering previously approved weapons packages from the Biden era, following a brief Pentagon pause in certain munitions earlier this month.