US treasury secretary says Washington has ‘plenty of money’ to fund Iran war

Washington has "plenty of money" to fund its ongoing war against Iran, US Treasury Secretary Scott Bessent has said.

In an interview with NBC News on Sunday, Bessent said the administration of President Donald Trump does not plan to raise taxes to cover the Pentagon's reported $200 billion request for funding the war in Iran.

"Why would we (raise taxes)? We have plenty. We have a trillion dollars in this year's budget for the military," the secretary said.

"Actually, now we have plenty of money to fund this war. What we are doing is -- this is supplemental," said Bessent, without elaborating on the source of the funds.

"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."

Bessent also defended strikes on Iran's infrastructure, saying "sometimes you have to escalate to de-escalate," saying that these attacks are "the only language the Iranians understand."

US-Israeli strikes against Iran began on Feb. 28 and have reportedly killed at least 1,300 people, including then-Supreme Leader Ali Khamenei.

Iran has retaliated with drone and missile strikes targeting Israel, Jordan, Iraq, and Gulf countries hosting US military assets, causing casualties and damage to infrastructure while disrupting global markets and aviation.