The Pentagon is requesting $80 billion to cover the costs of the Iran war and related expenses.
| PULSE POINTS |
❓ WHAT HAPPENED: The Department of War is seeking congressional approval for approximately $80 billion to cover the costs of the Iran war. 📰 DETAIL: The Department of War’s request was first reported on Thursday by The Wall Street Journal. Deputy War Secretary Stephen Feinberg presented the funding request to lawmakers, highlighting the risk of running out of operational funds within months without congressional action. According to recent Pentagon reports, the cost of the Iran war is already approximately $29 billion, though the true cost may be much higher. In addition to triggering a spike in the price of oil, resulting from the closure of the Strait of Hormuz, a vital chokepoint for global oil exports, the Iran war has also reportedly strained the country’s munitions stockpile, so much so that Acting United States Navy Secretary Hung Cao has warned that the war is undermining the United States’ ability to arm Taiwan. Notably, Secretary of War Pete Hegseth has dismissed claims of munitions shortages, though a portion of the $80 billion requested by the Department of War will go towards munitions. 🎯 IMPACT: The funding requests feed into worries that the U.S. is overstretching itself abroad to the detriment of domestic priorities, such as affordability and immigration enforcement. Under the War Powers Act of 1973, the President requires congressional approval within 60 days of committing American forces to military conflict. As the deadline has now passed, congressional lawmakers see the Department of War’s request as a chance to rein in the Trump administration on war spending, despite simultaneously committing further funds to Ukraine. The administration insists the 60-day timeline paused when the U.S. and Iran agreed to a ceasefire in April. |
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