U.S. Congress committee endorses $488 million aid to Israel
Funds would go toward procurement of Iron Dome and development of Arrow 3 and Magic Wand missile interception systems. ● The U.S. House of Representatives Armed Services Committee has endorsed a $488 million increase in military aid to Israel, which would pay for Israel's procurement and development of additional rocket and missile interception systems. The committee last week approved the defense authorization bill proposal submitted by its chairman, California Republican Howard McKeon. According to the wording of the proposal, the U.S. will allocate another $268 million to Israel in 2014 for the development of two interception systems: the Arrow 3, which intercepts long-range missiles, and the Magic Wand, which intercepts medium-range missiles.