Scott Bessent Rejects Tax Hikes as Iran War Costs Hit $11B in Days
Treasury Secretary Scott Bessent is rejecting any plan to raise taxes to fund the escalating Iran war, even as costs surge and funding questions intensify.
The stance is sharpening a growing conflict in Washington, where lawmakers and analysts are pressing for clarity on how the U.S. will sustain what could become one of its most expensive modern conflicts.
In an NBC Meet the Press interview, Bessent said tax increases are “not at all” being considered and argued the U.S. already has “plenty of money,” pointing to roughly $1 trillion in military funding, according to Reuters and Benzinga.
At the same time, the Pentagon is reportedly seeking up to $200 billion in additional funding, and early operations have already cost about $11 billion in just days, raising new questions about long-term financing.
“That’s ridiculous,” Bessent said when pressed on funding concerns during the NBC interview.
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The gap between rising costs and firm opposition to new taxes is emerging as a central tension, especially as some members of Congress resist approving more spending after record defense budgets.
The issue also lands as the administration signals a potentially prolonged conflict, with Bessent suggesting the U.S. may “escalate to de-escalate,” indicating further military pressure could be ahead.
For now, the administration has not detailed how additional war funding would be sourced if Congress pushes back.
The next test is likely to come when a formal funding request reaches Capitol Hill.
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