Congressional Budget Office reports US-Iran war costs $38B so far

The Congressional Budget Office put a price tag on Operation Epic Fury this week, and it’s not small. The US military campaign in Iran has cost approximately $38 billion from its launch on February 28 through August 1, according to a CBO report dated September 15. That works out to roughly $7.6 billion per month over the first five months of operations. The CBO projects ongoing costs of $2B to $3B monthly, depending on how intense things stay on the ground and in the air. Where the money is going The biggest line item is munitions replacement, clocking in at $21.7B. Flying hours come next at $10.4B, reflecting the relentless pace of air operations over Iranian territory. Elevated fuel expenses have added another $2.7B, equipment losses account for $1.9B, and increased operational tempo across bases and support infrastructure has cost $1.5B. Pentagon estimates from earlier this summer aligned closely with the CBO’s figures, pegging total costs at roughly $37.5B as of mid-2026. The munitions problem nobody wants to talk about Beyond the headline dollar figure, the CBO report surfaces a more uncomfortable reality about America’s weapons stockpile. The US has likely burned through 50% ...