President Donald Trump issued a directive on Monday to temporarily suspend all federal grants and loans, potentially affecting trillions of dollars in government funding and disrupting public programs that millions across the country rely on.
According to the White House memo, the suspension begins on January 28 at 5 p.m. EST.
Why It Matters
The new directive could affect billions of dollars in funding designated for state and local governments. Federal funding supports thousands of initiatives, including research projects, housing assistance, and education grants.
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