Bloomberg Surveillance · Friday, July 24, 2026
The House of Representatives narrowly passed a $1.5 trillion defense bill, including $95 billion for various priorities such as funding for the Iran war and farm aid. However, it's unlikely the Senate will take up the bill quickly, potentially delaying critical funding.
“This is part of reconciliation. They proved ninety five billion. Part of that, as you mentioned, seventy three billion in funding for the Iran war, twelve billion in farm aid, and ten billion aimed at incentivizing states to adopt elements of the Save America Act?”
“So all these are the President's priorities. The issue is only the House was able to push it forward, and it potentially it might be a very hard vote ahead of the midterm elections for some individuals to take that vote. And I don't see Senate Majority Leader Foon acting on this very quickly.”
“The Republican Congressman French Hill voting to pass the budget, saying that bill, this bill enshures our military has what it needs to deter our adversaries and defend American interests around the globe.”