Senate Democratic leader Chuck Schumer (D-N.Y.) said on Thursday that Democrats would not support any funding effort tied to President Donald Trump's Iran agreement, accusing Trump of acting out of "incompetence" and "ego" as backlash grew over a proposed $300 billion reconstruction plan for Tehran.

Schumer Says Democrats Will Reject Iran Funding

"The U.S. is worse off because of Trump's incompetence, his ego, and his inability to listen to facts," Schumer wrote on X. "If Trump wants to send hundreds of billions of dollars to Iran, he'll need to do with Republican votes."

"Democrats will not be helping Trump send $300 billion to Iran," he added.

Schumer was reacting to a provision in Trump's memorandum of understanding with Iran, signed Wednesday by Trump and Iranian President Masoud Pezeshkian, that says the U.S. "undertakes with regional partners to develop a definitive, mutually agreed plan with at least $300 billion for the reconstruction and economic development of the Islamic Republic of Iran."

Trump And Vance Deny Taxpayer Funding Plan

The memorandum leaves the "mechanism for implementation" to 60 days of talks. It also says Washington will grant needed licenses, sanctions waivers, or other permissions.

Trump and Vice President JD Vance sought to reassure critics on Thursday that U.S. taxpayers would not fund the plan. Trump wrote on Truth Social, "There is no 300 Billion Dollar payment to Iran by the U.S. That's Fake News!" He called the claim Democratic "propaganda."

Lawmakers Tie Fund To Domestic Priorities

Democrats have linked the fund to domestic needs. Sen. Amy Klobuchar (D-Minn.) said $300 billion could fund homelessness programs, cancer research and pre-K, adding, "This is not America First."

Beyond the fund, the memorandum includes sanctions relief for Iran's fossil fuel industry, talks on frozen assets and the reopening of the Strait of Hormuz.

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