5. The aid was given as a bribe to the Egyptian elite to make nice with Israel. Given the chaos in Sinai, and Egypts instability, Congress is more worried about that issue than at any time in 40 years.
6. The Israelis asked the US not to suspend the aid.
7. Congress even structured the economic aid to require some of it help joint Israeli-Egyptian enterprises in Egypt, so some of the aid to Egypt actually goes to . . . Israel.
8. It is not generally recognized, but the Egyptian military provides a security umbrella to Saudi Arabia, Kuwait and the UAE against Iran (and sometimes Iraq). The Gulf oil states also have powerful Washington lobbies and want Egypt to continue as a Gurkha force. Children, can you say oil?
9. Many in Congress dont actually disagree with the generals actions in overthrowing the Muslim Brotherhood-backed Freedom and Justice Party and driving it underground, since they agree it is a terrorist organization....
http://www.juancole.com/2013/08/democracy-washington-reluctant.html
So, in an oblique way, it is about democracy--the one that was established in Palestine in 1948; which, unfortunately, caused other issues in the region.