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Bessent also ruled out any calls for tax increases in the "Meet the Press'" program on NBC News.

Congress is sceptical about the U.S. government's request to spend $200 billion more on the Iran war after spending large amounts of money for defense last year.

Bessent supported the request without verifying the amount.

The President Donald Trump's administration has stated that this number may change.

Bessent stated, "We have plenty of money to finance this war." This is supplemental. "This is supplemental."

Last week, Secretary of Defense Pete Hegseth stated that additional funding was necessary "to make sure that we are properly funded for the work we have done and for the work we will do in the future."

He called a question on possible tax increases "ridiculous", and said it was "not even" being considered.

Early indications indicate that this war could be the most costly for the U.S. since the long conflicts with Iraq and Afghanistan. The first six days of Iran's war cost the administration officials more than $11billion.

Since Trump's second term began in January 2025, the Republican-led Congress approved record funding for military. Last month, Trump signed into law the Fiscal 2026 Defense Appropriations Act which included $840 billion of funding.

Last summer, despite opposition from Democrats the Republican-led Congress approved a "sweeping" tax cut and spending package that included $156 billion in defense.

Bessent also defended the Trump administration's recent moves to lift sanctions against Iranian and Russian oil. He argued that doing so would allow other countries, including Japan and South Korea, to purchase the oil. This would prevent oil prices from rising?to $150 a barrel, and reduce the revenues Iran and Russia receive.

He said that a Treasury Analysis showed the maximum additional amount of oil revenues Russia could receive would be $2 billion. (Reporting and editing by Sergio Non, Mark Porter and Andrea Shalal)

(source: Reuters)