I don’t think this is accurate. The United States gives about 3-4 billion a year for defense (keep in mind it’s Likely with inflated prices and the money needs to be spent on American defense industry). Israel’s gdp is over half a trillion dollars. The support at least in terms of money is less then 1% of gdp.
These numbers are the regular scheduled assistance. During wartime, emergency assistance increases many times as much, like the ones Washington approved to provide during this war, in addition to the US military's deployment with carriers, vessels etc. in the area and taking down threats all on their dime. And that's all besides the priceless assurance of American intervention with the full might of its military lest Israel faces an existential threat, which keeps Israel's enemies at bay.