- Diesel export ban push amid rising fuel costs and Iran tensions
- 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
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- 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.
From 2paragraphs.com
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