The House of Representatives has approved the allocation of USD 21.3 billion in foreign assistance during 2007, including USD 2.46 billion to Israel, the largest sum received by any country.
The annual assistance package to Israel is comprised of USD 2.34 billion in military aid, in addition to USD 120 million in standard economic aid.
House foreign aid legislation must be reconciled with a Senate version before a final bill can go to President George W. Bush for signature.
As of next year the military aid to Israel is set to reach USD 2.4 billion, but regular economic aid will be cancelled.
House calls on Arab League to end boycott of Israel
Apart from the annual aid package, the House approved the transfer of an additional USD 40 million to Israel aimed at assisting the country in the absorption of new immigrants from eastern Europe, Ethiopia and former Soviet Union countries.
The House dismissed a proposal to cut American aid to Egypt by USD 100 million following the arrest of opposition leaders in the country, and eventually approved USD 1.7 billion in economic aid.
Since the signing of the Camp David peace agreement in 1979, Israel and Egypt have been the biggest recipients of American aid.
The Foreign Aid Bill includes a demand that President Bush dares the Iranian nuclear threat at the G-8 summit, scheduled to take place in Russia next month. The bill also calls on the Arab League to end its boycott of Israel and calls on Congress to report on the steps taken to promote normalization between Israel and the Arab world.