United States Defense Secretary Pete Hegseth stated on Tuesday, July 22, 2026, that the ongoing US-led war on Iran has cost approximately $37.5 billion so far. He requested nearly double that amount—around $67 billion—in additional funding to continue military operations.

Hegseth made the announcement during a session with the Senate Appropriations Committee (SAC), where he sought to justify the increased defense budget as part of a broader $1.5 trillion proposal for the Defense Department's 2027 fiscal year. He warned that without Congressional approval, the US could face "critical shortfalls that threaten our ability to pay our service members, replenish some of the equipment and munitions consumed during contingency operations and sustain vital global operations without disruption."

Analysis shows that stockpiles of key munitions—including Patriots, THAADs, Standard Missile-3 (SM-3), and Precision Strike Missiles (PrSM)—have fallen to 50 percent or less of pre-war levels. Meanwhile, the economic impact extends beyond military spending; by July 22, Americans had incurred over $72 billion in additional petrol and diesel costs since the war began, according to Brown University’s Iran War Energy Cost Tracker.

Senator Gary Peters, a Democrat, criticized the request, stating, “Secretary Hegseth, despite your failure to win this war, you are back now before Congress asking for almost $70bn in additional funding. You are asking the American people for a blank cheque.”

The conflict continues to affect the region, with reports of air defenses activating in Iran and ongoing tensions impacting strategic waterways such as the Strait of Hormuz and Bab al-Mandeb.

Sources