Treasury Chief: America Has Adequate Funding for Iran Military Operations

Treasury Secretary Scott Bessent stated Sunday that the United States possesses sufficient financial resources to support military operations against Iran. He confirmed the administration is seeking additional congressional funding to ensure future military readiness, while ruling out tax increases to finance the conflict.

WASHINGTON, March 22 – America possesses adequate financial resources to support its military operations against Iran, Treasury Secretary Scott Bessent declared Sunday, while confirming the administration’s pursuit of additional congressional funding to maintain future military preparedness.

During an appearance on NBC News’ “Meet the Press,” Bessent also dismissed any possibility of implementing tax increases to finance the military conflict.

The military’s appeal for $200 billion in extra funding for Iranian operations encounters significant congressional resistance, with both Democratic lawmakers and some Republican members challenging the necessity following substantial defense allocations approved last year.

Bessent supported the funding appeal while declining to verify the specific dollar amount.

President Donald Trump has yet to formally submit the request to both chambers of Congress, and his administration has indicated the figure remains subject to modification.

“We have plenty of money to fund this war,” Bessent stated. “This is supplemental. President Trump has built up the military, as he did in his first term, as he is now doing in his second term, and he wants to make sure that the military is well supplied going forward.”

Defense Secretary Pete Hegseth indicated last week that additional funding was necessary “to ensure that we’re properly funded for what’s been done, for what we may have to do in the future.”

Bessent characterized inquiries about potential tax hikes as “ridiculous” and confirmed such measures were “not at all” being considered.

Initial assessments indicate this conflict may become America’s costliest military engagement since the extended wars in Iraq and Afghanistan. Administration representatives informed legislators that the initial six days of Iranian operations exceeded $11 billion in expenses.

The Republican-controlled Congress has already authorized unprecedented military funding since Trump’s second term commenced in January 2025. Last month, he enacted the Fiscal 2026 Defense Appropriations Act, providing approximately $840 billion in military funding.

Additionally, last summer, despite Democratic opposition, the Republican-led Congress enacted comprehensive tax reduction and spending legislation that allocated $156 billion for defense purposes.

Bessent also justified the Trump administration’s recent decision to remove sanctions on Iranian and Russian petroleum. This approach, he contended, would enable nations beyond China — including Japan and South Korea — to acquire the oil, while preventing petroleum prices from reaching $150 per barrel and diminishing overall revenues for Iran and Russia.

According to his statement, Treasury analysis indicated that Russia’s maximum additional oil revenue would reach $2 billion.