"We commend President Obama and his administration for forging this landmark agreement. It demonstrates America's strong and unwavering commitment to Israel. We also commend the bipartisan majorities of the House and Senate who have urged the administration to come forward with a dramatic increase in U.S. support for the Jewish state, and we look forward to working with Congress to ensure the full amount is funded.
"The United States has long defined Israel's survival and security as a key national security interest. In an increasingly uncertain Middle East, Israel is the one stable democratic ally upon which America can depend. U.S. security assistance is critical for helping the Jewish state defend itself, by itself. With these funds, Israel will be able to modernize and better equip its armed forces. And this MOU will send a strong message of deterrence to America's and Israel's regional adversaries that these two allies stand together amid increased instability and growing chaos in the Middle East.
"In 1998, the United States and Israel signed their first 10-year MOU to increase security assistance to Israel while phasing out economic aid. Under that agreement, the United States committed to providing Israel $21.3 billion in security assistance. In 2007, America committed to provide $30 billion under the current 10-year MOU, which expires in 2018."