- Trump seeks to end the war with Iran while the US maintains sanctions and naval blockade, operating from the White House amid Republican election cycle concerns.
- Trump continues military action in Iran while the House votes to end the war and the CBO tracks associated costs.
CBO Estimates Iran War Cost at $38 Billion; House Debates Funding
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
The Congressional Budget Office estimated the war in Iran cost $38 billion through August 1. The CBO also projected that the war would cost an additional $2 billion to $3 billion each month if operations continue at the current pace. Senator Ruben Gallego compared this cost to the approximately $40 billion estimated to extend Affordable Care Act tax credits for a year, noting that gas and grocery prices followed the war.
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Why it matters
The CBO provides non-partisan economic analysis regarding the policies and actions of Donald Trump's administration. The House is reviewing these cost estimates while voting on war funding and policy.
Donald Trump continues military action in Iran while the House votes on ending the war.
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Who's involved
- Congressional Budget OfficeProvides non-partisan economic analysis and cost estimates for the war.
- HouseVotes on war funding and policy.
- Donald TrumpInitiated the war in Iran.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- MedicareSpeculative
The debate over ACA tax credit costs could impact the House's regulatory and funding power over Medicare.
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The entities involved
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Congressional Budget Office
government agency
- House
Related events
- The CBO has analyzed the costs associated with the Iran war, specifically discussing the goals of Trump's administration.
- The conflict in the Middle East is taking place, and the total cost of the war is being assessed.
- The Congressional Budget Office assessed budget cuts while the Pentagon simultaneously sought funding for the war against Iran.
- Michael Cloud and the Congressional Budget Office propose an act requiring cost estimates to be included in legislation.
- War costs are leading to the depletion of munitions inventory, while proposals regarding dividends are simultaneously increasing the national debt.