Directing the President, pursuant to section 5(c) of the War Powers Resolution, to remove the United States Armed Forces from hostilities against the Islamic Republic of Iran.

H. Con. Res. 75, introduced March 4, 2026, by Rep. Josh Gottheimer (D-NJ), is a concurrent resolution directing the President to withdraw U.S. Armed Forces from hostilities with Iran within 30 days of enactment, absent a formal congressional authorization of military force. The resolution does NOT self-execute — it is a policy statement, not a binding law with the force of statute. However, on April 27, 2026, Representative Self secured unanimous consent to allow floor consideration at any time if called up by the Foreign Affairs Committee chair. This is significant procedural momentum for a resolution that had only one action (referral to committee) in its first 54 days. Three companion resolutions — H. Con. Res. 87, 88, and 89 — have been submitted but remain in committee, signaling a coordinated legislative push. The resolution carries zero funding authorization. It is a War Powers Resolution directive, not an appropriations bill. The mechanism is removal of U.S. forces from combat operations, which in turn removes the Pentagon's basis for emergency procurement, ongoing replenishment of expended munitions, and theater sustainment contracts that had been running at elevated rates due to the conflict. The structural winners in a withdrawal scenario are minimal in this context. No sector directly benefits from removal of U.S. forces from Iran; the effect is a pure reduction in defense demand and a normalization of geopolitical risk in energy markets. For defense prime contractors — Lockheed Martin ($LMT), Northrop Grumman ($NOC), General Dynamics ($GD), and RTX ($RTX) — the risk is concentrated in their munitions, missile defense, and armored vehicle segments. These companies had been running production lines at elevated rates to replenish inventories expended during Iran-related operations. A cease-fire or withdrawal removes the urgency for those replenishment cycles, pushing high-margin follow-on orders to the right. For energy majors — Exxon Mobil and Chevron — the risk is a reduction in the Straits of Hormuz geopolitical risk premium that had been supporting crude prices. A reduction of U.S. forces removes the primary escalation trigger, potentially compressing the risk premium by $3-5/bbl. Related bills H. Con. Res. 86-89 are identical, indicating a coordinated legislative strategy to maximize pressure on the White House. Real market data shows the defense sector has ALREADY priced in this risk through a brutal April selloff. Lockheed Martin closed at $512.29 on April 28, down 16.81% over 30 days and 7.77% over 7 days. The slide has been relentless: from $611.10 on April 15 to $512.29 — a $98.81 drop in 13 trading days. This is the largest single-month decline in 2026. Northrop Grumman ($577.82) is down 14.9% over 30 days. RTX ($175.68) is down 7.4% monthly. General Dynamics ($313.68) is down 9.54%. These are significant, sector-wide moves that correlate with the legislative progress of H. Con. Res. 75 and the unanimous consent agreement on April 27. By contrast, energy majors are showing signs of recovery this week but remain under pressure on the month: XOM up 0.71% on the week but down 11.95% over 30 days; CVX up 1.09% weekly but down 10.79% monthly; PSX and MPC up 2.79% and 4.74% weekly respectively but down 12.3% and 7.67% monthly. The weekly energy recovery suggests some traders are treating the resolution's passage as already priced into crude, but the monthly charts show the broader deflationary pressure. Timeline: The resolution can be called up for floor consideration at any time by the Foreign Affairs Committee chair. No markup has been scheduled yet, but the unanimous consent agreement is a strong sign of leadership support for floor action. If it passes the House, it goes to the Senate where a companion resolution would be required. Concurrent resolutions are not presented to the President and carry no legal force — they are statements of congressional opinion. However, passage in both chambers would put immense political pressure on the administration to comply. The 2026 midterm elections are in November; this resolution serves as a messaging vehicle for the anti-war caucus. Real market impact crystallizes upon floor passage in either chamber — that is the event that signals formal congressional intent to de-escalate the Iran theater.