Trump’s “Golden Fleet” Could Cost Taxpayers More Than $455 Billion

Initial Ship Estimated at $23.4 Billion, Each Additional Ship Could Cost $18 Billion

If Tonnage of Ships Increases Beyond 35,000 Ton Estimate, Costs Will Increase Significantly

WASHINGTON, D.C. - Today, at the request of U.S. Senator Jeff Merkley (D-OR), Ranking Member of the Senate Budget Committee, the nonpartisan Congressional Budget Office (CBO) released independent analysis showing that President Trump’s “Golden Fleet” battleship program will cost $23.4 billion to construct the first vessel with each subsequent ship costing around $18 billion. CBO estimates that the cost for taxpayers will be more than $275 billion to build 15 ships, but Trump noted in his announcement of the “Golden Fleet” that the Navy aims to have a fleet of 20 to 25 ships eventually. According to Budget Committee calculations, a fleet of 25 ships could cost $455 billion.

Merkley’s request comes as the Navy continues to struggle with major acquisition programs that have run billions over budget, fallen years behind schedule, or failed to deliver promised capabilities.

“At a time when families are struggling to afford groceries, gas, health care, and child care, Congress cannot throw hundreds of billions of dollars at Trump’s ‘Golden Fleet,’ including plastering his name across a new battleship. Just like Trump’s ‘Golden Dome,’ the ‘Golden Fleet’ is expected to cost much more than previously estimated.

“While we continue to see too many Pentagon programs burdened by cost overruns, delays, and unrealistic promises that fail to meet reality, Congress cannot afford to commit to another massive military boondoggle that will only succeed in filling the coffers of the military-industrial complex. I will work with my colleagues on the Appropriations Committee to reject moving forward with this wasteful project, and instead invest in programs that help families thrive,” said Ranking Member Jeff Merkley.

CBO estimates that each ship will displace 35,000 tons, but warns that if displacement increases to 41,000 tons, the costs per hull would rise by 16 percent, pushing the total program cost to $528 billion.

Merkley has repeatedly pressed for transparency and independent cost analysis to understand the full price of the Trump Administration’s reckless military initiatives. In May, CBO informed Merkley that Trump’s plan for a next-generation missile defense shield—dubbed the “Golden Dome”—would cost U.S. taxpayers more than $1.2 trillion. Trump previously claimed that it would cost $175 billion.

CBO’s response to Merkley on the cost of the “Golden Fleet” is HERE.

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