Banking News – The U.S. House of Representatives has approved a US$95 billion budget framework focused on funding military operations against Iran. The measure passed by a narrow 216–214 vote on Wednesday and will now move to the Senate, where its prospects remain uncertain.

Under the proposed package, US$73 billion has been allocated to the U.S. Armed Forces and intelligence agencies, with the funding designated primarily for ongoing military and national security operations involving Iran.

The proposal also includes US$12 billion in assistance for American farmers affected by President Donald Trump’s trade policies.

In addition, US$10 billion has been earmarked for nationwide election-related programs. The funding is linked to the Trump administration’s proposed voting restrictions, although broader political support for the proposed “Save America Act” has yet to materialize.

Considered one of the Republican Party’s key legislative priorities ahead of the November midterm elections, the measure currently serves as a preliminary budget framework. If approved by the Senate, House Republicans are expected to draft detailed legislation in the coming months.

Republican lawmakers are also expected to use a special budget reconciliation process, allowing the legislation to pass the Senate with a simple majority instead of the usual 60-vote threshold.

House Speaker Mike Johnson said the budget framework would help Republicans advance two major priorities: strengthening U.S. national security and enhancing the integrity of the country’s electoral system.

However, Democratic Representative Rosa DeLauro criticized the proposal, arguing that it would provide additional funding to prolong the conflict with Iran. She said Americans are more concerned about lowering the cost of essential goods and services—including food, housing, healthcare, childcare, and fuel—than financing another prolonged and costly conflict in the Middle East.

The debate over the budget comes as rising living costs and persistent inflation continue to dominate the political agenda ahead of the upcoming U.S. midterm elections.