The Latest: Hegseth defends $1.5 trillion budget request before Congress as cost of Iran war climbs

Defense Secretary Hegseth testified to Congress that the ceasefire with Iran remains in effect despite recent exchanges of fire, and the cost of the war has risen to nearly $29 billion. President Trump is facing economic shocks due to Iran closing the Strait of Hormuz, a vital shipping corridor. Senators repeatedly questioned Hegseth about the long-term strategy to reopen the Strait of Hormuz.