Democrats and republicans are slated to finalize the 2011 budget in the coming days.
The delay in the approval of the funds was caused by foot-dragging in passing the budget in Congress.
The budget was meant to pass five months ago but partisan conflicts delayed its approval.
According to an agreement between the US and Israel for the next 10 years, 2011 aid was slated to grow to $3 billion (from $2.77 billion) in addition to an extra $205 million for the development of the Iron Dome system.
It is estimated Obama will sign the 2011 budget on Wednesday or Thursday.
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