$70 Million to Iron Dome Project
US President Obama signed a bill expanding US defense cooperation with
Israel, and announced that he would approve the transfer of additional funds
to the system developed in Israel

IsraelDefense 28/7/2012
http://www.israeldefense.com/?CategoryID=483&ArticleID=1494

The Iron Dome system (Archive: IDF Spokesperson) US President Barack Obama
signed the Enhanced Security Cooperation Act approving the expansion of
defense cooperation between Israel and the US. Furthermore, President Obama
stated that the allocation of $70 million for the Iron Dome missile defense
project will be announced in the coming week, approving the decision made by
the US Congress two months ago.

“By signing this bill, everyone will understand that the US is committed to
Israel’s safety,” Obama said during the signing ceremony at the White House,
which was attended by Senator Barbara Boxer and Congressman Howard Berman,
who sponsored the allocation of the funds to Israel. Referring to the Iron
Dome system, President Obama said that “this system is crucial for
preserving the safety of families in Israel. It is a project that has been
tested and has successfully prevented missile attacks directed at Israel.”

US Secretary of Defense Leon Panetta is expected to arrive to Israel this
week for a round of meetings. President Obama said that the visit is
intended "to conduct further consultations find additional through which we
can ensure cooperation in a time of heightened regional tensions.” Obama
also referred to the terror attack last week in Bulgaria, in which five
Israeli citizens were killed. “The tragic events in Bulgaria emphasize the
ongoing challenge faced not only by Israel, but the entire world – to
prevent terror attacks and ensure that Israeli citizens will not be hurt,”
Obama added.

In the framework of the bill signed by President Obama, the fields of
cooperation that will be expanded between the US and Israel include
interception missiles, HLS, energy, intelligence, and computer security. In
addition, the bill calls for upgrading Israel’s NATO standing, and promises
joint training with the US Air Force. The new legislation also authorizes
the US Department of Defense to increase the weapon and ammunition
stockpiles stored in Israel for emergency situations at a scope of $400
million over the next two years.