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Stock impact report

Trump administration axes $1.5B in blue-state grants over reported waste and mismanagement concerns [FOX Business Network]

News Corporation - Class A (NWSA) 
Last news corporation - class a earnings: 2/6 04:45 pm Check Earnings Report
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The Trump administration's budget office told FOX Business Wednesday that it is canceling $1.5 billion in blue-state grants, citing concerns about how funds are being managed in California, Colorado, Illinois and Minnesota. The Office of Management and Budget (OMB) said it will target projects at the Department of Transportation (DOT) and the Centers for Disease Control and Prevention (CDC), cutting $943 million and $602 million, respectively. An OMB spokesperson told the New York Post that the states were being targeted due to "waste and mismanagement" of taxpayer funds. The announcement follows OMB launching a sweeping review of federal funding for several Democratic-led states in January, which required states to submit detailed receipts proving no funds were being mishandled, CBS News reported The initiative reflects a shift in fiscal policy toward "America First" priorities by withholding funds from states that maintain sanctuary policies or projects the administration d Show less Read more
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