Story perspectives
Trump and Musk's Cuts Threaten $1 Trillion in Funding
5/8/2025
46 3
1 of 1
Story summary
- US officials prepare for potential funding cuts from President Trump and Elon Musk's cost-reduction efforts.
- State and local governments rely heavily on federal funding for vital infrastructure and social programs.
- Around $1 trillion in annual federal grants faces uncertainty.
- This situation arises amid worries about Trump's trade war and the threat of a recession.
