WASHINGTON – American defense contractors will receive a larger slice of the funds allocated by Congress to Israel’s Iron Dome missile defense system next year.

The three percent increase means US contractors will be receiving more than half of the $176 million designated to the project.

Foreign military financing often involves the obligation of appropriated funds to US defense firms – an opportunity for Congress to inject federal dollars back into the American economy.

“Under this agreement, the United States focus shifts toward maximizing economic activity in the United States while ensuring that Israel’s security needs are met,” the US Missile Defense Agency said in the April 2 report, Bloomberg News reported Wednesday. “This new agreement strikes a better balance for both parties and should serve as a model for the future.”

Congress has approved $703m. since 2011 for Israel to spend on Iron Dome.

Iron Dome has been lauded for its exceptional success rate, intercepting 85% of rockets headed toward populated regions of Israel from Gaza.

Please LIKE our Facebook page - it makes us stronger