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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...
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