President Trump and Secretary of Defense Pete Hegseth will announce plans regarding the Golden Dome missile defense shield, has confirmed.

Trump and Hegseth are scheduled to speak at 3 p.m. ET, per the president’s schedule.

The dome is expected to include an array of satellites capable of detecting and even intercepting missiles, and its cost is likely to be in the tens of billions of dollars.

The Golden Dome idea was inspired by Israel’s land-based Iron Dome defense shield that protects it from missiles and rockets. Trump’s Golden Dome is much more extensive and includes a massive array of surveillance satellites and a separate fleet of attacking satellites that would shoot down offensive missiles soon after liftoff.

The project’s funding remains uncertain. Republican lawmakers have proposed a $25 billion initial investment for the Golden Dome as part of a broader $150 billion defense package, but this funding is tied to a contentious reconciliation bill that faces significant hurdles in Congress.

“Unless reconciliation passes, the funds for Golden Dome may not materialize,” said an industry executive following the program. “This puts the entire project timeline in jeopardy.”