The war against Iran has run up a heavy bill for the United States, now pegged at $37.5 billion.

The estimate, delivered by Defense Secretary Pete Hegseth, arrives as US strikes on Iran continue for an 11th straight night.

US Defence Secretary Puts Iran War Cost at $37.5 Billion

Hegseth presented the figure to the Senate Appropriations Committee on Tuesday. He said the $37.5 billion covered certain aspects of the war plus anticipated costs through September 30.

Cost estimates have risen sharply since the conflict. Reuters reported in March that the administration valued the first six days of fighting at a minimum of $11.3 billion.

The latest $37.5 billion figure sits roughly $12 billion above the $25 billion estimate Hegseth gave in late April. He offered that number just before Trump brokered a temporary ceasefire with Iran.

The administration is also pressing for more money. In late June, it asked Congress for $87.6 billion in extra funding.

The New York Times reported that as much as $70 billion of that would go to emergency military spending. The funds would cover war costs and pay for new weapons and personnel.

The Pentagon wants $46 billion to expand munitions production. That includes precision bombs, hypersonic missiles, and counter-drone systems.

“This is a new request based on new realities of a world we face, stepping up to meet that moment,” Hegseth stated.

Ordinary Americans are absorbing costs too. Brown University’s Watson Institute estimates that higher gasoline and diesel prices have added $71.8 billion in consumer spending since the war began. That works out to about $548 per US household. 

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US-Iran Ceasefire Proposal Lands as Strikes Hit 11th Night

Diplomacy has run in parallel with the fighting. A senior Iranian official told Reuters on Monday that mediators had handed Tehran a de-escalation proposal.

The plan floats a 10-day ceasefire. The pause would create room to revive an interim deal struck last month.

Those talks have not slowed the strikes. CENTCOM said it finished its 11th consecutive night of operations against Iran on Tuesday evening.

According to CENTCOM, the strikes hit military command centers, aircraft hangars, drone storage sites, and naval assets. The stated goal is to blunt threats to shipping in the Strait of Hormuz.

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Source: BeInCrypto