Top Price Market
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

Top Price Market

Politics

Trump admin to pause financial assistance programs: report

by admin January 28, 2025
January 28, 2025
Trump admin to pause financial assistance programs: report

The White House has reportedly issued a memo that broadly suspends federal grants, loans and other financial assistance programs for executive departments pending an assessment of the funding. 

The Wall Street Journal first reported the memo, saying it was sent out by the Office of Management and Budget around 5 p.m. on Monday. 

The memo, which takes effect Tuesday at 5 p.m., said agencies ‘must temporarily pause all activities related to obligation or disbursement of all Federal financial assistance, and other relevant agency activities that may be implicated by the executive orders, including, but not limited to, financial assistance for foreign aid, nongovernmental organizations, DEI, woke gender ideology, and the Green New Deal,’ according to the Journal. 

The memo reportedly said the federal government spent more than $3 trillion on federal assistance, including grants and loans, in the 2024 fiscal year and that the pause allows ‘time to review agency programs and determine the best uses of the funding for those programs consistent with the law and the President’s priorities.’

Each agency must ‘complete a comprehensive analysis of all their Federal financial assistance programs to identify programs, projects and activities that may be implicated by any of the President’s executive orders,’ the memo continued, according to the Journal, adding that the pause must be applied ‘to the extent permissible under applicable law.’ 

Senate Minority Leader Chuck Schumer, D-N.Y., condemned the memo, telling the Journal that pausing the funding puts ‘billions upon billions of community grants and financial support that help millions of people across the country’ at risk. 

‘It will mean missed payrolls and rent payments and everything in between: chaos for everything from universities to non-profit charities, state disaster assistance, local law enforcement, aid to the elderly, and food for those in need,’ Schumer said, adding that Congress approved the funding for the federal assistance programs.

The memo included a footnote that said Medicare, Social Security benefits and assistance provided directly to individuals were exempt from the pause, but its otherwise broad language caused confusion Monday night among some federal employees, as administrators requested advice from their internal counsel regarding which programs the pause applied to and how the departments should respond, one source told the Journal. 

The memo included a Feb. 10 deadline for agencies to submit a thorough summary of all paused programs, projects and activities to the Office of Management and Budget.

This post appeared first on FOX NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Biden gave Americans the business. Trump is giving us businessmen 
next post
FBI director nominee Kash Patel broke hostage rescue protocol: whistleblower

You may also like

China increasing nuclear arsenal at exponential rate, expected...

5 key takeaways of Biden’s address to the...

Vance takes faith approach after Harris mocked pro-life...

New poll shows where Trump stands 10 weeks...

HHS downsizing begins amid RFK Jr. ‘Make America...

House Republicans anticipate vote to formalize Biden impeachment...

Trump cuts off federal resources for law firm...

New text message allegedly reveals Hunter Biden proposed...

Schumer gathers key committee Dems to talk looming...

Senate passes amendment to ban federal mask mandates...

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Israel’s plan to ‘conquer’ Gaza is leaving Palestinians with little place to...

    • US calls for Asia allies to boost defenses in face of China’s ‘imminent’ threat, Hegseth tells top defense forum

    • Top 5 Canadian Mining Stocks This Week: Adyton Sparkles with 97 Percent Gain

    • Hunter Biden seen driving Toyota rental in South Africa after his Secret Service detail was terminated

    • These toys are so hot that Chinese customs agents have seized hundreds of them in recent weeks

    Categories

    • Business (1,672)
    • Investing (4,988)
    • Politics (7,848)
    • Uncategorized (2)
    • World (6,353)
    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions
    • Email Whitelisting

    Disclaimer: toppricemarket.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 toppricemarket.com | All Rights Reserved


    Back To Top