The Pentagon has announced that it has spent almost all the funding it received under President Donald Trump’s One Big Beautiful Bill Act (OBBA) that went into effect last year.
On July 4, 2025, Trump signed the OBBA into law, funding different government departments across the country. In terms of the Pentagon, the funding disrupted the National Defense Authorization Act (NDAA) process, acting as a multi-year funding mechanism to supercharge defense capabilities.
In a statement released on Wednesday, the Department of Defense (DOD) updated the public on its progress and said it had “successfully obligated 97.5%” of the funds Trump provided the department.
Service-Specific OBBA funding
In terms of specific agencies within the department, DOD said it had spent $10.5 billion of the $10.7 billion OBBA allocated to the U.S. Army.
It also obligated $48.7 billion of the Navy’s $49.2 billion allocation, $34.0 billion of the Air Force’s $34.3 billion allocation, and $55.2 billion of the $58.1 billion allocated to other Pentagon components.
A Pentagon official said that, overall, this amounted to $148.6 billion of the $152.4 billion the bill authorized.
“This record-high execution rate demonstrates our unwavering commitment to rebuilding our military and delivering immediate lethality to the war fighter,” Jules Wilson Hurst III, Under Secretary of Defense (Comptroller) and chief financial officer, said in the statement.
Hurst also praised Trump and Defense Secretary Pete Hegseth’s “mandate for rigorous fiscal responsibility.”
Hurst added that, having communicated with Congress, DOD decided to reserve some of the funding the OBBA provided to the Office of Strategic Capital (OSC), the Defense Innovation Unit (DIU), and the Economic Defense Unit (EDU) “to preserve investment options into Fiscal Year 2027 and maximize use of those dollars.”
Iran War Continues to Siphon Costs
Despite the OBBA funding, the Pentagon has requested that Congress provide it with more money as the U.S.’s war with Iran continues.
The U.S. military has spent over $47 billion so far on the war—an amount that amounts to 25% more than the DOD’s July estimate, according to Pentagon data cited by Reuters on Wednesday.
In July, Defense Secretary Pete Hegseth told Senate Appropriations Committee lawmakers that the Department of Defense required $1.5 trillion to fund the ongoing conflict. If it didn’t, he warned, it would create arguably the greatest “threat” to the U.S.
Democratic senators have requested greater transparency from the Pentagon regarding the cost of damage to U.S. military bases and facilities sustained during the conflict.
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47 Comments
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Good point. Watching costs and grades closely.
Good point. Watching costs and grades closely.
Nice to see insider buying—usually a good signal in this space.
Production mix shifting toward USA might help margins if metals stay firm.
Production mix shifting toward USA might help margins if metals stay firm.
Interesting update on Pentagon Announces It Has Spent Almost All One Big Beautiful Bill Funding. Curious how the grades will trend next quarter.
Good point. Watching costs and grades closely.
The cost guidance is better than expected. If they deliver, the stock could rerate.
Good point. Watching costs and grades closely.
The cost guidance is better than expected. If they deliver, the stock could rerate.
Production mix shifting toward USA might help margins if metals stay firm.
Interesting update on Pentagon Announces It Has Spent Almost All One Big Beautiful Bill Funding. Curious how the grades will trend next quarter.
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Good point. Watching costs and grades closely.
Nice to see insider buying—usually a good signal in this space.
Good point. Watching costs and grades closely.
I like the balance sheet here—less leverage than peers.
Good point. Watching costs and grades closely.
Good point. Watching costs and grades closely.
The cost guidance is better than expected. If they deliver, the stock could rerate.
Good point. Watching costs and grades closely.
Good point. Watching costs and grades closely.
Nice to see insider buying—usually a good signal in this space.
Good point. Watching costs and grades closely.
Good point. Watching costs and grades closely.
Nice to see insider buying—usually a good signal in this space.
Interesting update on Pentagon Announces It Has Spent Almost All One Big Beautiful Bill Funding. Curious how the grades will trend next quarter.
I like the balance sheet here—less leverage than peers.
Good point. Watching costs and grades closely.
Exploration results look promising, but permitting will be the key risk.
Good point. Watching costs and grades closely.
Good point. Watching costs and grades closely.
If AISC keeps dropping, this becomes investable for me.
Good point. Watching costs and grades closely.
Good point. Watching costs and grades closely.
Nice to see insider buying—usually a good signal in this space.
Good point. Watching costs and grades closely.
Silver leverage is strong here; beta cuts both ways though.
Good point. Watching costs and grades closely.
Good point. Watching costs and grades closely.
Interesting update on Pentagon Announces It Has Spent Almost All One Big Beautiful Bill Funding. Curious how the grades will trend next quarter.
Good point. Watching costs and grades closely.
If AISC keeps dropping, this becomes investable for me.
Nice to see insider buying—usually a good signal in this space.
Good point. Watching costs and grades closely.
Good point. Watching costs and grades closely.