The Pentagon has officially confirmed the existence of its $22 million program to investigate unidentified flying objects (UFOs), reported by Politico and the New York Times almost simultaneously today.

Why it matters, per Politico's Bryan Bender: "The revelation of the program could give a credibility boost to UFO theorists, who have long pointed to public accounts by military pilots and others describing phenomena that defy obvious explanation, and could fuel demands for increased transparency about the scope and findings of the Pentagon effort, which focused some of its inquiries into subjects such as next-generation propulsion systems."

The details of the Advanced Aviation Threat Identification Program:

• Harry Reid, the former Democratic Senate Majority Leader requested the program's funding in 2007. Much of it came from Robert Bigelow, the billionaire behind an aerospace program who currently works with NASA.
• Bigelow said on CBS last May that he was "absolutely convinced" that UFOs have visited Earth and that aliens exist.
• Pilots and various military personnel have claimed to see UFOs that "maneuvered so unusually and so fast that they seemed to defy the laws of physics."
• One UFO sighting collected by the program is documented in "footage from a Navy F/A-18 Super Hornet showing an aircraft surrounded by some kind of glowing aura traveling at high speed and rotating as it moves," per NYT.

The program's funding ended in 2012, though some of the program's backers say it continues to operate. A Pentagon spokesman, Thomas Crosson, told NYT: “It was determined that there were other, higher priority issues that merited funding, and it was in the best interest of the DoD to make a change."

Why now: Luis Elizondo, a military intelligence officer who helped run AATIP, resigned in October because he said there wasn't sufficient time and effort put into the UFO investigation, according to his resignation letter to Defense Secretary James Mattis.