Trump has issued a freeze on grants and loans. Here’s what it means for your bottom line
Trump has issued a freeze on grants and loans. Here’s what it means for your bottom line
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‘Financial assistance for foreign aid, nongovernmental organizations, DEI, woke gender ideology, and the Green New Deal’ will be paused, according to a memo. The Trump administration paused federal grants, loans, and other financial assistance in a late-night move - that could have big impacts for everyday Americans.
The Office of Management and Budget distributed a memo Monday ordering federal agencies to pause any federal financial assistance to allow President Donald Trump and his administration to review whether that aid is consistent with his policies. The scope of the order is not immediately clear. Outside of a few honorable mentions — “financial assistance for foreign aid, nongovernmental organizations, DEI, woke gender ideology and the Green New Deal” — the memo did not spell out which programs would be impacted.
The order does, however, explicitly exclude Medicaid and Social Security benefits from being affected. Experts warned that a wide range of activities, including nonprofits, food assistance, student loans and scientific research, could be impacted by this order.
Each federal agency is required to conduct a “comprehensive analysis” of each of its financial assistance programs to determine whether they are implicated by the president’s flurry of executive orders, the memo states. Senate leader Chuck Schumer warned that this order “blatantly disobeys the law.”.
