Defense Sec. Pete Hegseth and General Dan Caine testify before House panel on budget — 5/12/26

Watch on YouTube ↗  |  May 12, 2026 at 14:17  |  1:58:26  |  CNBC

Summary

The House Appropriations Subcommittee holds a hearing to review the FY2027 defense budget request of $1.5 trillion. Topics include the cost of the Iran war, industrial base revitalization, and concerns over mandatory funding and transparency.

  • Secretary Pete Hegseth defends the $1.5 trillion budget as a warfighting budget to reverse underinvestment.
  • General Dan Caine emphasizes the need for predictable funding to maintain joint force readiness.
  • Comptroller Jules Hurst estimates the Iran war cost at $29 billion to date.
  • Lawmakers express concerns over the use of reconciliation for defense funding and lack of cost transparency.
  • Discussions focus on munitions stockpiles, aviation modernization, and counter-UAS capabilities.
  • The subcommittee requests detailed cost breakdowns and supplemental funding information by June 11th.
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