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

Trump administration cutting 90% of USAID foreign aid contracts, documents show

by February 27, 2025
written by February 27, 2025

The sheer scale of cuts the Trump administration is looking to carry out at the U.S. Agency for International Development (USAID) has been revealed, with nearly 15,000 grants worth $60 billion set to be eliminated, according to internal documents.

The grants amount to about 90% of foreign aid contracts and come after a review on spending by the State Department. 

USAID aid became an early target of the Trump administration, with the president being a longtime critic of overseas spending, arguing that it does not benefit the American taxpayer and going so far as to call those who run the top agency ‘radical lunatics.’

Republicans argue it is wasteful, promotes liberal agendas and should be enfolded into the State Department, while Democrats say it saves lives abroad and helps U.S. interests by stabilizing other countries and economies.

In all, the Trump administration said it will eliminate 5,800 of 6,200 multi-year USAID contract awards, for a cut of $54 billion. Another 4,100 of 9,100 State Department grants were being eliminated, for a cut of $4.4 billion, according to a State Department memo reviewed by the Associated Press.

The State Department memo described the administration as spurred by a federal court order that gave officials until the end of the day Wednesday to lift the Trump administration’s monthlong block on foreign aid funding.

‘In response, State and USAID moved rapidly,’ targeting USAID and State Department foreign aid programs in vast numbers for contract terminations, the memo said.

The memo said officials were ‘clearing significant waste stemming from decades of institutional drift.’ More changes are planned in how USAID and the State Department deliver foreign assistance, it said, ‘to use taxpayer dollars wisely to advance American interests.’

U.S. Supreme Court Justice John Roberts on Wednesday paused a federal judge’s order that required the Trump administration to pay around $2 billion in foreign aid funds to contractors by midnight. 

The ruling comes after the Trump administration asked the Supreme Court for an emergency order to block the release of U.S. Agency for International Development (USAID) funding, which the federal judge had required by midnight. Officials had said they would not be able to comply with the judge’s order.

USAID was set up in the early 1960s to act on behalf of the U.S. to deliver aid across the globe, particularly in impoverished and underdeveloped regions. The agency now operates out of 60 nations and employs some 10,000 people, two-thirds of whom work overseas – though most of the on-the-ground work is contracted out to third-party organizations funded by USAID, according to a BBC report.

But the agency has come in for considerable criticism as Trump and Elon Musk’s Department of Government Efficiency (DOGE) look to root out waste, fraud and abuse in the federal government. 

Musk likened the agency to ‘not an apple with a worm in it,’ but ‘just a ball of worms.’ 

‘You’ve got to basically get rid of the whole thing. It’s beyond repair,’ Musk wrote on X earlier this month.

Trump has moved to gut the agency after imposing a 90-day pause on foreign aid. The Trump administration plans to gut the agency and intends to leave fewer than 300 staffers on the job out of the current 8,000 direct hires and contractors. He has also appointed Secretary of State Marco Rubio as the acting director of USAID.

The news comes as thousands of staffers were notified weeks ago about pending dismissals. Some were seen leaving Washington, D.C., offices for the last time on Friday carrying boxes scrawled with messages that seemed to be directed at President Donald Trump.

Sen. Joni Ernst, R-Iowa, the Senate DOGE Caucus Chairwoman, recently published a list of questionable projects and programs she says USAID has helped fund over the years, including $20 million to produce a Sesame Street show in Iraq. 

Several more examples of questionable spending have been uncovered at USAID, including more than $900,000 to a ‘Gaza-based terror charity’ called Bayader Association for Environment and Development and a $1.5 million program slated to ‘advance diversity, equity, and inclusion in Serbia’s workplaces and business communities.’

Fox News’ Bill Mears, Andrew Mark Miller, Aubrie Spady, Deirdre Heavey, Caitlin McFall, Morgan Phillips and Emma Colton as well as Reuters and The Associated Press contributed to this report.

This post appeared first on FOX NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
AG Bondi dismisses DEI lawsuits brought against police, fire departments under Biden administration
next post
Top conservative group vows to ‘work closely’ with Trump on 2026 GOP primaries despite past clashes

related articles

Space-based missile-killing Golden Dome tech aims for crucial...

August 6, 2025

MTG declares she’s ‘radically AMERICA FIRST,’ telling those...

August 6, 2025

Brazil’s ex-president and major Trump ally Bolsonaro placed...

August 6, 2025

Marjorie Taylor Greene urges Trump to commute George...

August 6, 2025

RFK Jr cancels $500 million in mRNA research,...

August 5, 2025

Cotton calls on IRS to pull Muslim advocacy...

August 5, 2025

Senate GOP ready to go nuclear after Schumer’s...

August 5, 2025

Key aide in IRS’ Tea Party targeting controversy...

August 5, 2025

Gargantuan ‘bird cemeteries’ in Burgum’s crosshairs as DOI...

August 5, 2025

Michelle Obama celebrates Barack as ‘coolest guy’ on...

August 5, 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

  • The euro index is unstable, while the yen index is positive

    July 22, 2024
  • USAID instructions for fired employees gives them 15 minutes to gather belongings from shuttered DC building

    February 26, 2025
  • Veterans groups urge Trump admin to continue Afghan ally support program amid budget cut concerns

    April 29, 2025
  • Biden defiantly charges ahead with election run despite speculation he would drop out this weekend

    July 21, 2024
  • ‘Efficient and accountable’: GOP-led DOGE bill aims to slash outflow of federal dollars

    November 21, 2024

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

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

    July 19, 2024
  • 3

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

    December 4, 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 (5,638)
  • Investing (634)
  • Stock (872)

Latest Posts

  • JPMorgan cuts Netflix rating, citing balanced risk-reward post-rally; stock falls

    May 19, 2025
  • MAGA law group fights to expose how Biden’s DEI agenda may have tainted life-saving organ transplants

    July 2, 2025
  • McDonald’s preparing a 2025 ‘McValue’ offering

    November 21, 2024

Recent Posts

  • McDonald’s DEI rollback: Fast-food giant retires quotas and shifts focus to ‘Global Inclusion’

    January 7, 2025
  • Will the Trump Cabinet undo Musk’s DOGE legacy now that he’s gone?

    June 2, 2025
  • USDCHF and USDJPY: USDJPY continues bullish consolidation

    August 30, 2024

Editor’s Pick

  • Top 5 moments from only VP debate between Vance and Walz before election

    October 2, 2024
  • Sen. Joe Manchin calls on Biden to step aside, pass torch to ‘a new generation’

    July 21, 2024
  • SOUN Stock is Soaring By 1.64%. Will It Maintain Its Gains?

    August 27, 2024
  • 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