The influential US Armed Services Committee has been investigating the money spent on a top-secret X-Files type Pentagon project.
Seen as one of the most powerful committees in Washington, the group oversees military spending and legislation.
Top political members asked how much taxpayers’ cash was spent on the Advanced Aerospace Threat Identification Program (AATIP) which investigated flying saucer reports for four years from 2008.
Officials working alongside scientists from Bigelow Aerospace have examined videos of UFOs and reportedly studied debris from crashed objects.
Video of one AATIP case study showed US pilots in the Pacific in 2004 watching an object appear suddenly at 80,000ft before hurtling towards the sea and stopping at 20,000ft.
Luis Elizondo, who ran the Pentagon project, said researchers concluded some of the UFOs are using time-travel jumps to achieve such speeds and dramatic movements.
Nick Pope, who probed the UFO phenomenon for the Ministry of Defence, believes the investigation by the US armed service committee could lead to a major public hearing which would be a “political bombshell”.
Mr Pope said: “I think the powerful House Armed Services Committee was as fascinated and mystified by the revelations about the Pentagon’s UFO project as everyone else.
“Some committee members and staffers may have been angered that they were kept in the dark about AATIP, not least because the US government had previously denied there was any official interest in UFOs.
“The record of Congressional proceedings that mentions AATIP suggests to me that the committee asked for and received a brief on this UFO project from the Defense Intelligence Agency, possibly with a view to holding formal Congressional hearings.
“These hearings might be narrowly focused on AATIP, looking into how taxpayers’ dollars were spent and what the DIA concluded.
“This would almost certainly include investigation of the three declassified videos that have been released, showing US navy jets chasing unidentified objects.
More than 40,000 Americans have taken out insurance against being abducted by aliens.
“Hearings should probably go wider than just looking at AATIP, and should look at the UFO phenomenon as a whole.
“It would be a great opportunity to get to the bottom of the UFO mystery.”
Mr Pope said he is aware from private sources that discussions are taking place and he would be happy to testify.
He said President Donald Trump has stayed quiet on the subject on the subject of UFOs but Hilary Clinton had indicated she would request information on Area 51.