Senate bill would provide Israel with $750M for missile defense

As Iran continues to rise as an increasing threat, seven Republican senators have introduced a $1.5 billion emergency supplemental appropriations bill, with $750 million targeted to strengthen Israel's missile defense programs.

The bill, titled "Emergency Supplemental Appropriations Act for the Defense of Israel, 2016," states that $700 million would be available until Sept. 30, 2018 to buy new missile defense systems. Another $50 million would be used towards "research, development, test and evaluation, defense-wide" with the money being available until Sept. 30, 2017. 

Additionally, the senators want to provide Israel with more Foreign Military Financing funds.

"For an additional amount for 'Foreign Military Financing Program,' $750 million to remain available until Sept. 30, 2017, which shall be disbursed within 30 days of enactment of this act," the bill states.

The bill would also extend the Iran Sanctions Act of 1996, legislation that imposes sanctions on organizations that assist Iran on the acquisition of technologies such as nuclear weapons. While the act currently expires on Dec. 31, 2016, the bill extends that date to Dec. 31, 2031. 

According to a release from Sen. Mark Kirk's (R-IL) office, the bill's backers include Kirk, Sens. Lindsey Graham (R-SC), Kelly Ayotte (R-NH), John McCain (R-AZ), Marco Rubio (R-Fl) and Sen. Roy Blunt (R-MO).

"The recent nuclear deal has left Iran flush with cash," Graham said in the news release, referring to the $1.7 billion released to Iran by the Obama administration, which marked the money as a case settlement for a weapons deal before the Iranian revolution. "It's important we make clear to the Iranian regime that we continue to stand with our close ally and are committed to Israel's defense."

On Sept. 14, the Obama administration announced it had signed a memorandum of understanding with Israel that provides $3.8 billion in military financing over the next 10 years. Under the terms of the agreement, Israel will receive $500 million each year for missile defense programs.