Iran War Has Cost US $37.5 Billion, Hegseth Says

Summary

Defense Secretary Pete Hegseth testified before the Senate that the US war against Iran has cost approximately $37.5 billion, with the administration requesting an additional $67 billion in defense funding. The figures include current outlays and anticipated costs through September 30.

• Hegseth testified before the Senate on Tuesday.
• The US war against Iran has cost about $37.5 billion so far.
• The administration is asking lawmakers for an additional $67 billion in defense funding.
• The cost estimate includes military pay, operations & maintenance, and anticipated expenses through the fiscal year end.
• No investment or market views were expressed in the testimony excerpt.