• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Editor's Pick

Trump admin to pause financial assistance programs: report

by January 28, 2025
written by January 28, 2025

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 comment
0
FacebookTwitterPinterestEmail

previous post
Comprehensive Guide to Money Market Accounts
next post
USAID workers put on leave as Trump officials investigate resistance to aid pause

related articles

Senate shuts down Kaine’s attempt to check Trump’s...

June 28, 2025

Trump touts administration’s progress on peace deals, says...

June 27, 2025

Anxious Republicans turn to Trump amid divisions over...

June 27, 2025

Venezuelan opposition member details harrowing 400-day captivity at...

June 27, 2025

JD Vance poised to clinch victory for Trump’s...

June 27, 2025

Trump secures record-shattering $1.4B for political war chest,...

June 27, 2025

Trump secures record-shattering $1.4B for political war chest;...

June 27, 2025

Trump says ‘big, beautiful’ bill ‘must’ meet deadline...

June 27, 2025

Barrett eviscerates Jackson, Sotomayor takes on a ‘complicit’...

June 27, 2025

Trump would strike Iran ‘without question’ if it...

June 27, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Ripple and Tron: Tron is on the defensive and under pressure

    July 30, 2024
  • Millionaires could see rate hike in Trump agenda bill, House GOP tax writer says

    April 29, 2025
  • RFK Jr., on eve of Election Day, tells voters ‘do NOT vote for me’

    November 4, 2024
  • FBI nominee Kash Patel confirmed in narrow Senate vote

    February 20, 2025
  • Analysts back Trump’s USAID cuts in Africa, say increased trade will better benefit continent’s poor

    February 26, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 3

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (5,143)
  • Investing (634)
  • Stock (820)

Latest Posts

  • GOP senators back Trump’s demand for Ukraine elections, but won’t call Zelenskyy ‘dictator’

    February 19, 2025
  • Zelenskyy warns North Korea, Russia alliance could spell trouble for Asia: China’s ‘silence is striking’

    November 1, 2024
  • Secretary Hegseth says the DOD does not do ‘climate change crap’

    March 9, 2025

Recent Posts

  • White House: Biden is not holding Harris back, has been ‘really clear about passing the torch’

    October 16, 2024
  • Xi stands with Putin against ‘international bullying’ amid Trump trade war

    May 8, 2025
  • Israel strikes Hezbollah targets inside Lebanon; IDF warns residents to stay near bomb shelters

    September 20, 2024

Editor’s Pick

  • Trump says Taylor Swift endorsing Harris was ‘just a question of time’

    September 11, 2024
  • DAVID MARCUS: Radical transparency is the secret to Trump’s early success

    February 23, 2025
  • Head of UN watchdog says UNRWA hired people ‘who were supporting terrorism’

    February 14, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.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 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock