Legally, the U.S. can’t cut Israel off completely. Since 2008, the U.S. has had to weigh all arms sales to Israel and other countries in the region against the requirement that Israel maintains a “qualitative military edge” against all enemies, both state and non-state actors.
In 2008, George W. Bush was in his second term as president.
From the linked politico article,
In 2008, George W. Bush was in his second term as president.