Published on 29 Jan 2025 on Benzinga
Trump's Federal Spending Freeze Puts $3 Trillion In Limbo, Threatens Industries...
The White House has ordered a temporary freeze on all federal grants and loans, putting $3 trillion in funding under scrutiny and setting the stage for a legal and political showdown over the congressional power of the purse that could heavily impact a wide range of industries.
The directive, issued Monday by the Office of Management and Budget and received by several media outlets, requires all federal agencies to halt disbursements while programs are reviewed for alignment with President Donald Trump's policy priorities.