The Obama Administration intends to cut about $6.3 million in defense aid to Israel next year, including financing for the Arrow and David’s Sling missile defense systems, it was reported on Monday.

According to the report, the annual budget proposal for 2013, which was presented by President Obama to Congress, includes about $99.8 million in defense aid to Israel, compared with $106.1 million in 2012.

U.S. Defense Secretary Leon Panetta said that the budget for 2013 has been carefully designed so that there is little room for change. He told the Senate members that this is the time to show they are serious about deficit reduction.