Rep. Stephen solarz (D.NY) told the Jewish Telegraphic Agency today that the House International Relations Committee has adopted an amendment he introduced last week that will increase the level of cash budgetary assistance available to Israel from $300 million to $560 million.
Solarz explained that in the last two fiscal years this amount has totaled $785 million, part used for commodity imports by Israel and $300 million in cash grants. The credits under the Commodity Import Program could not be spent fast enough because of the bureaucratic procedures involved, he said. Israel had problems doing it and the AID also had problems with the result that both ended last year with $200 million that could not be spent.
Solarz said his amendment will cut paper work and make available to Israel immediately the money which the U.S. is furnishing that country in economic assistance. “We have to cut down the amount of money going into the Commodities Import Program and increase the amount going into cash,” he said. “This makes more available to Israel immediately and also cuts down Israel’s shipping costs. Instead of being required to ship half on U.S. vessels, they could buy goods here and shipping costs would go down,” Solarz said.
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