Trump administration orders federal funding freeze on all public loans, grants and more aid
CBSN
A memo from the White House budget office is calling for a spending freeze on federal assistance by 5 p.m. Tuesday, which could affect everything from aid to nonprofits, universities, small business loans and state and local government grants.
The freeze could have wide-ranging implications, with the White House noting that $3 trillion was spent in 2024 on federal assistance programs.
"This memorandum requires Federal agencies to identify and review all Federal financial assistance programs and supporting activities consistent with the President's policies and requirements," the memo says.
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