Pentagon gives new $29bn Iran war price tag, downplays munitions concerns

The Pentagon has updated the cost of the US-Israel war with Iran to $29 billion, an increase from the previously reported $25 billion. Defense Secretary Pete Hegseth presented this figure to a congressional panel on May 12, 2026, attributing the rise to updated repair, replacement, and operational costs. While the Pentagon maintains preparedness for escalation or de-escalation, questions persist from experts and lawmakers regarding the accuracy of the cost estimate and the impact on US munitions stockpiles and the broader economy. The war, which began on February 28, has seen fighting largely paused since April 8.

Defense Secretary Pete Hegseth is scheduled to face renewed questioning from Congress on Tuesday regarding the ongoing war with Iran. Lawmakers, including some Republicans, are concerned about the conflict's duration and lack of explicit congressional authorization. The hearings will also review the Trump administration's proposed $1.5 trillion military budget for 2027. The war's stalemate and Iran's closure of the Strait of Hormuz have led to rising fuel prices, creating political challenges for Republicans ahead of midterm elections. President Trump has described the ceasefire as "on massive life support" and criticized Iran's nuclear program proposals.