To share in the burden of U.S. military funding cuts, Israeli officials extended an offer on Friday to waive the Middle Eastern nation's minimum funding levels, Defense News reported.
Israel's portion of the cut to U.S.-Israel cooperative missile defense programs would total around $55 million. If it had not been set aside, the funding protection would have prevented the nine percent sequester from affecting $607.3 million for the Israeli Iron Dome program over a three-year period.
The U.S. Defense Department said in March that it is committed to continue funding Israeli missile defense systems. Israel is set to receive an additional $65.8 million for the Arrow-2 Weapon System, $181.7 million for the Upper Tier Arrow-3 System, and $213.9 million for the David's Sling System. The Obama administration said in April that it will request $520 million for Israeli missile defense programs over the next three years.
The $3.1 billion in foreign military financing aid that Israel receives every year is not protected from a nearly five percent sequester cut, and Israel has not sought an exemption.