Updated 1:43 p.m. ET, 4/28/2014
(CNN) - Sen. Rand Paul plans to introduce a bill this week to cut foreign aid to the Palestinian government unless it recognizes Israel's right to exist, the senator announced Monday.
His proposal comes as the rival movements of Hamas and Fatah in the Palestinian territories reached a deal to form a unity government, a potentially major development as the Palestinian Authority seeks statehood.
[twitter-follow screen_name='politicalticker'] [twitter-follow screen_name='KilloughCNN']
The Kentucky Republican argued in a statement that the agreement "brings both danger and opportunity to the peace process, and the next five weeks may prove critical."
“The bill that I am introducing will say....we won’t send it to (the Palestinians) unless they recognize Israel’s right to exist and that they end hostilities with Israel," Paul said at an event Monday in Louisville.
As Paul has seen his numbers rise in hypothetical 2016 presidential polls, the libertarian-leaning senator has come under increased scrutiny from mainstream Republicans about his non-interventionist foreign policy views.
Paul has long called for an end to all U.S. foreign aid, including to Israel, though he has said he prefers to cut off assistance to Israel's enemies first, before gradually moving on to Israel itself.
Paul visited the region last year.
He has also pushed legislation that would strip Pakistan, Egypt and Libya of U.S. aid.
CNN Chief Congressional Correspondent Dana Bash contributed to this report.