A joint resolution to direct the removal of United States Armed Forces from hostilities within or against the Islamic Republic of Iran that have not been authorized by Congress.

S.J. Res. 117 was introduced March 5, 2026 by Sen. Schiff (D-CA) with 4 cosponsors, all Democrats. It was read twice and referred to the Senate Committee on Foreign Relations, where it remains. The bill directs the President to remove U.S. Armed Forces from hostilities within or against Iran unless Congress has authorized war. Three prior identical resolutions — S.J. Res. 104, 114, and 116 — all failed discharge votes with margins of 46-51 to 47-53, indicating insufficient support to even force a floor vote. The current bill faces the same structural obstacle: 60 votes would be needed to overcome a filibuster, and even the discharge motions could not reach a simple majority.

The money trail is nonexistent — the bill authorizes zero funding. It is a policy directive, not a spending bill. If enacted, it would reduce defense sustainment revenue currently flowing from high-tempo CENTCOM operations, but the legislative path to enactment is effectively blocked.

Real market data shows defense stocks have already priced in the Iran conflict's impact: LMT has declined 15.72% over 30 days, NOC down 15.56%, RTX down 9.4%. These declines likely reflect broader market factors or profit-taking after earlier conflict-driven gains, not anticipation of this bill's passage. The bill's legislative status — stuck in committee with 5 Democratic sponsors — provides no basis for altering investment theses.

Timeline: The bill will likely remain in committee indefinitely. A discharge petition would require majority support that has failed three times already. No path to enactment exists in the current Congress unless Middle East conditions dramatically shift support, which is outside the range of analysis based on available legislative data.