The jizya is a tax that infidels (non-Muslims) must pay in order not to be brutalized by Allah's chosen.
Fight those who believe not in Allah nor the Last Day, nor hold forbidden that which hath been forbidden by Allah and His Messenger, nor acknowledge the religion of Truth, (even if they are) of the People of the Book, until they pay the Jizya with willing submission, and feel themselves subdued. Qur'an 9:29
It is basically a protection racket. Think Mafia run by religious zealots. In this case, as President Obama sees it, in order not to suffer terrible disruption ("a deepening spiral of division") by justifiably irate Muslims, the U.S. must pay up. It is part of the Obama Doctrine: billions for tribute but not one more cent for defense.