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Giving in a memorandum of understanding (MoU) to end the US-Israel conflict with Iran has become a new political hot spot in Washington, as President Donald Trump defends his commitment to a $300bn reconstruction plan in Iran.
Trump and Vice President JD Vance both tried to confirm Thursday that the commitment would not be paid for by US taxpayers. However, several Democrats and a few Republicans have seized the fund, which was designed at a time when affordability and economic growth have dominated national politics.
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The agreement, which was signed by Trump and Iranian President Masoud Pezeshkian on Wednesday, states that the US will “engage with regional organizations to develop a definitive, coordinated plan of $300 billion for the reconstruction and economic development of the Islamic Republic of Iran”.
It left a “plan of action” to be considered within 60 days, and the US is committed to providing any necessary permits, waivers of sanctions or other sanctions.
Although the details are still unclear, Trump, in a Social Truth post on Thursday, rejected direct US funding for the program.
“There is no 300 Billion to pay Iran to Iran and the US That’s Fake News!” he wrote.
He called the story Democrat “propaganda”.
Vance, meanwhile, in an interview with The New York Times published on Thursday, said that the plan “will not be paid for by American taxpayers”.
“Not one American dollar goes to Iran,” he said.
By following press conferenceVance said that such a fund could be paid for by Arab countries in the region and those outside the region who want to invest in Iran, creating an economic partnership that would help bring about peace.
No countries have yet confirmed their financial commitment to the plan.
Vance added that Iran would have access to the material “if they fully comply and change their behavior”.
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Several top Democrats in recent days wanted to link the $300bn fund to domestic and economic resources, a message that should grow ahead of the mid-term elections in November.
“With $300 billion, we could end homelessness, support cancer research for 40 years, and give every child free pre-K for more than 7 years. Instead, Trump is sending it to Iran,” Senator Amy Klobuchar said in a post on X earlier this week.
US Senator Chuck Schumer, the top Democrat in the chamber, said “Democrats will not help Trump send $300 billion to Iran”.
“Republicans won’t get the money to help Americans take care of their health,” Congressman Jason Crow wrote on X Thursday. “But they will get the money to get Iran $300 billion.”
A few Republicans have also joined in opposing the plan, including Iran hawk and Trump ally Senator Roger Wicker.
In a statement on Thursday, Wicker said the $300bn, although not paid for by US taxpayers, would make “Iran’s payments under President (Barack) Obama’s 2015 deal look paltry by comparison”.
He also referred to the 2015 Joint Comprehensive Plan of Action (JCPOA), which saw Washington release nearly $55bn in frozen Iranian assets as part of a deal to get Iran to curtail its nuclear program and submit to regular inspections to lift sanctions. These assets are usually held in foreign banks.
Trump withdrew from the deal in 2018 and has repeatedly said that the future deal with Iran will be. further away principles of the JCPOA. The deal signed Thursday does not address the future of Iran’s nuclear program; instead, it initiates a 60-day negotiation process to resolve the issue.
Beyond the reconstruction fund, the new US-Iran deal also commits to lifting sanctions on Iran’s oil industry. It is also launching negotiations to freeze billions in Iranian assets and lift sanctions.
US Representative Thomas Massie, a longtime Trump opponent who lost his re-election campaign after pro-Trump and pro-Israel groups entered the race, also targeted the reconstruction fund.
“$300 billion is 5X what Congress spends on our roads & bridges annually,” he wrote in a tweet on X.
“I’m tired of winning,” he said, referring to one of Trump’s favorite things.
