Helping olim get their legs in Israel is crucial to both getting them here and more importantly getting them to stay. The American Jewish community is well equipped and well endowed to take care of American Jewish identity if that was a priority--they don't need Israeli money--Israel needs to devote its resources to what goes on in the country. And I speak as an American oleh.
World Jewish Congress: Nazi train treasures must go to rightful owners (Reuters)
from the article: Jewish Agency plans to ax funding for immigrant students