If *any* UN agency recognizes the PLO as a state, it loses US funding (which currently covers 22% of UNESCO's budget). There is *no* waiver available to the President. If UNESCO accepts Palestine as a member, the first thing Israel should do is kick UNESCO out of the country. That's overdue anyway when they consider the Cave of the Patriarchs and Rachel's Tomb to be "mosques".
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from the article: U.S., EU scramble to delay Palestinian bid to join UNESCO