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8 items of 1682 · updated Oct 29, 2026, 6:00 AM ET
American taxpayers' bill for the Iran war grows to an estimated $47.1 billion, and the president has said new strikes on Iran are an option after the midterms.
The cost of the U.S. war against Iran has increased to $47 billion, up more than $3 billion since last month, as President Trump mulls strikes against Iran after the U.S. midterm elections.
Trump seeks historic $1.5 trillion for military in budget request
The White House asked for about $1.5 trillion for defense in fiscal 2027, a roughly 40% jump, while proposing cuts to domestic programs.
Source: Al Jazeera aljazeera.com/news/2026/4/3/trump-seeks-histori… (link to aljazeera.com)
Trump calls for major increase in defense spending alongside cuts in domestic spending
The budget pairs a large military increase with a 10% cut to non-defense spending, including health, housing and education programs.
Source: Anchorage Daily News (AP) adn.com/nation-world/2026/04/03/trump-calls-for… (link to adn.com)
Trump's budget fuels Democratic attacks over Iran, spending cuts
Democrats criticized the proposed military buildup and domestic cuts as out of step with voters' priorities ahead of the midterms.
Source: Bloomberg Government news.bgov.com/bloomberg-government-news/trumps-… (link to news.bgov.com)
The Pentagon announced an initial deal with Lockheed Martin to produce at least 850 F-35 fighter jets over the next 10 years, with Lockheed to put forward at least $7 billion in its own funding.