White House budget chief Russell Vought won’t estimate Iran war cost in testimony

White House budget chief Russell Vought won’t estimate Iran war cost in testimony


White House Office of Management and Budget Director Russell Vought testifies before the House Budget Committee at the U.S. Capitol on April 15, 2026.

Andrew Harnik | Getty Images

White House Office of Management and Budget Director Russell Vought told lawmakers he could not estimate the total cost of the Iran war and that the Trump administration hadn’t yet come up with a supplemental funding request to send to Congress.

“We’re not ready to come to you with a request; we’re still working on it. We’re working through to figure out what’s needed in this fiscal year versus next fiscal year,” Vought told members of the House Budget Committee on Wednesday.

“Do you have a ballpark? Will it be more than $50 billion?” Rep. Veronica Escobar, D-Texas, asked.

“I don’t have a ballpark for you, congresswoman,” Vought said.

Professor Linda Bilmes, a public policy professor at Harvard University’s Kennedy School, published an analysis this month that found the war could cost taxpayers $1 trillion.

Read more CNBC politics coverage

Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.



Source

Treasury Secretary Scott Bessent is preparing banks to collect citizenship data
Politics

Treasury Secretary Scott Bessent is preparing banks to collect citizenship data

Banks in the U.S. may not like the idea of being forced to collect citizenship data on customers, but Treasury Secretary Scott Bessent says they better be prepared for the task. “If Treasury and the banking regulators say it’s their job, it’s their job,” Bessent told CNBC’s Sara Eisen at the Invest in America Forum […]

Read More
U.S. and Iran could meet in Pakistan for peace talks next week: MS NOW
Politics

U.S. and Iran could meet in Pakistan for peace talks next week: MS NOW

US Vice President JD Vance (R) speaks during a news conference after meeting with representatives from Pakistan and Iran, as US President Donald Trump’s son-in-law Jared Kushner (L) and US Special Envoy to the Middle East Steve Witkoff (C) watch, in Islamabad on April 12, 2026. Jacquelyn Martin | AFP | Getty Images The U.S. […]

Read More
World Bank president: Prepare for months of disruption, even after Hormuz Strait reopens
Politics

World Bank president: Prepare for months of disruption, even after Hormuz Strait reopens

Countries affected by the Iran war should prepare for conflict-related disruptions to last for months, even if the current shaky ceasefire lasts and the Strait of Hormuz is reopened, World Bank President Ajay Banga said Wednesday. “It’ll still take a few months for things to come back to where they were” once the key oil-shipping […]

Read More