Hegseth vows to fight for his job and seeks at least $350 billion for the military as an impeachment vote nears

Defense Secretary Pete Hegseth released a video message on Thursday defending his tenure and vowing to fight for his job⁴. In the lengthy video he defended the Iran war and his job performance while lavishing praise on President Donald Trump¹.

In a post on X, Hegseth called for at least $350 billion for the military³. He vowed to keep fighting Iran, despite many blaming Republicans’ midterm losses on the war¹⁰, and vowed to continue the war amid bipartisan impeachment threats⁷.

Lawmakers are looking to impeach Hegseth as soon as next week, an effort that has gained momentum². He posted the defiant video amid news that he is facing possible impeachment by Congress⁶, and he has responded to Representative Thomas Massie’s impeachment push⁸.

Why it matters to investors

The criticism crosses party lines. Many lawmakers, including some Republicans, have criticized the defense secretary over his handling of the Iran war⁵. Calls are mounting for his removal¹.

His standing inside the administration has weakened as well. A de facto motto in the Trump White House holds that “somebody’s gotta take the fall,” and lately that person looks like Hegseth⁹. The unpopular war in Iran and his poor bipartisan relations are cited as reasons⁹.

Traders on one prediction market put the chance that Hegseth is out as secretary of defense by 30 November at 34%¹¹. The call for at least $350 billion³ puts a large funding request before a Congress where criticism of his war policy is growing^2,5.

For defense contractors and the budget outlook, the fight pairs a push for more military money³ with a campaign to remove the official making the request¹.

What to watch

The first marker is the timing of an impeachment vote, which could come as early as next week². The number of Republicans willing to back it will show how far the bipartisan criticism⁵ has spread.

The second is the funding request. Hegseth’s call for at least $350 billion³ will test whether lawmakers separate the money from the man asking for it.

The third is the White House. Hegseth has praised Trump at length¹, but the view that someone must take the fall⁹, and odds of 34% on his departure by the end of the month¹¹, keep his future uncertain.