The Congressional Budget Office released an independent analysis on Aug. 5 showing that President Trump’s proposed “Golden Fleet” battleship program may cost more than $455 billion if the Navy proceeds with its plan to build up to 25 ships. The estimate was provided at the request of Senator Jeff Merkley, Ranking Member of the Senate Budget Committee.
According to the CBO, constructing the first vessel would cost $23.4 billion, with each additional ship estimated at about $18 billion. The analysis indicates that building 15 ships would total over $275 billion, but Trump has stated a goal of expanding the fleet to between 20 and 25 ships, which Budget Committee calculations say could push costs as high as $455 billion.
Merkley said in a statement that Congress should not allocate hundreds of billions for what he called a “massive military boondoggle.” He said, “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.”
The CBO report also warns that if each ship displaces more than the current estimate of 35,000 tons—potentially rising to 41,000 tons—the per-ship price could increase by 16 percent and drive total program costs up to $528 billion.
Merkley has previously requested transparency and independent reviews for major military projects under the Trump Administration. In May, CBO informed Merkley that Trump’s missile defense initiative known as the “Golden Dome” would likely cost U.S. taxpayers more than $1.2 trillion compared with earlier claims it would be only $175 billion.
Merkley concluded by saying he will work with colleagues on appropriations decisions regarding future funding for this project.