Latest news with #fundingcuts
New York Times
5 hours ago
- Politics
- New York Times
Can Donors Fill the Major Budget Holes That Colleges Face Under Trump?
The T.H. Chan School of Public Health at Harvard has not been disguising its plight. 'With Harvard's federal funding frozen, we are relying on philanthropy to power our research and support our educational programs,' the school's donation website says. 'Your ongoing engagement is vital to keeping our mission on track.' The Trump administration's decision to block billions of dollars in research money to certain colleges is forcing administrators and their fund-raising teams to scrounge for cash. As schools across the country contemplate layoffs, lab shutdowns and other drastic steps, they are weighing how much the gaps can be plugged by private philanthropy — and how pointedly political their pleas for donations ought to be. A handful are wagering that the financial rewards of trying to leverage donors' concerns about the federal cuts will outweigh the risk of antagonizing the White House. In an April 30 note to alumni, Christina H. Paxson, the president of Brown University, said about three dozen of its grants and contracts had already been canceled, and that the government had stopped funding many research grants. She said news reports stated that the Trump administration had threatened an additional $510 million in grants and contracts to the university. The moves, she wrote, represented 'a significant threat to Brown's financial sustainability.' She urged alumni to lobby lawmakers about the issue, and included links for making donations to the university, including to support research whose federal funding was canceled or delayed. (Brown said data was not yet available for release about whether giving had increased as a result.) Many other institutions have opted for more caution. Ted Mitchell, president of the American Council on Education and a former leader of Occidental College, suggested that some schools may be worried about turning off right-leaning donors who may agree with President Trump's opinion that academia has tilted too far to the left. Want all of The Times? Subscribe.
Reuters
a day ago
- Business
- Reuters
US Senate referee allows measure to slash CFPB budget, lawmakers say
June 27 (Reuters) - The U.S. Senate's nonpartisan referee has allowed Republicans to proceed with a measure to slash funding for the government's top watchdog agency for consumer finance by almost half, a week after blocking an effort to eliminate funding completely, top lawmakers said late on Thursday. If adopted, the measure could add to Republican efforts this year to cut the Consumer Financial Protection Bureau's workforce and substantially limit its powers. A top Democrat immediately vowed to try to block the measure. Republican Tim Scott, chair of the Senate Banking Committee, said Parliamentarian Elizabeth MacDonough had ruled that a measure to lower the legal cap on CFPB funding could be approved by a simple majority vote, paving the way for its inclusion in a sweeping tax-cut and spending bill driven by President Donald Trump. MacDonough's role is to ensure lawmakers follow proper legislative procedure. If approved, the measure would cut maximum CFPB funding to 6.5% of the Federal Reserve's earnings from 12%, meaning the agency would likely employ many fewer people and have a more limited reach. Last week, MacDonough had found that a measure reducing this limit to 0% was ineligible for consideration via a simple majority vote as the House and Senate work to reconcile their spending bills. Scott said in a statement that the change would help cut "waste and duplication in our federal government and save hardworking taxpayer dollars." The CFPB is funded by the Federal Reserve, so is not supported by taxpayers. The central bank earns income from services it provides the financial system and from interest income on securities it owns. Republicans have attacked the CFPB since its creation more than a decade ago, saying it is a burden on free enterprise. President Donald Trump called this year for its elimination, accusing it without providing evidence of politicized enforcement. Democrats have said that since the agency was set up it has returned more than $20 billion to harmed consumers. Senator Elizabeth Warren, the top Democrat on the Banking Committee and a key proponent of the CFPB, said in a separate statement that Democrats would introduce a measure to eliminate the funding cut. The Republican move amounted to slashing CFPB funding "so they can hand out more tax breaks for billionaires and billionaire corporations," she said.
Fox News
2 days ago
- Business
- Fox News
Harvard Kennedy School announces layoffs after Trump cuts billions in funding
The Harvard Kennedy School of Government will lay off staff after federal funding cuts and endowment tax threats on Wednesday, according to an email from the dean of the school that was obtained by Fox News Digital. Without mentioning the Trump administration directly, Harvard Kennedy School Dean Jeremy M. Weinstein announced in an email to faculty and staff that the cuts were in response to "unprecedented new headwinds" creating "significant financial challenges." These included a "substantial proposed increase in the endowment tax" and "massive cuts to federal funding of research." He also cited the impact on international student enrollment after the administration eliminated the student visa program due to "pro-terrorist conduct" at Harvard's campus protests. According to the Kennedy School, international students made up 59 percent of the school's student body last year, and 52 percent on average in the past five years. The Kennedy School has been planning for budget cuts since February, but the White House's recent actions appear to have exacerbated the circumstances. The Trump administration froze $2.2 billion in funding to the university and threatened to revoke its tax-exempt status due to its handling of antisemitism on campus in the wake of the October 7 terror attacks on Israel by Hamas. The Department of Education's Task Force to Combat Anti-Semitism released a statement on May 13, citing recent reporting that "has exposed the Harvard Law Review's (HLR) pattern of endemic race discrimination when evaluating articles for inclusion in its journal." The findings resulted in the Trump administration cutting an additional $450 million in grants from the university. In addition to layoffs, Harvard has implemented "important steps" to reduce costs across the Kennedy School, Weinstein said, such as pauses in hiring and merit-based pay, ending a lease on the first floor of an office building, halting "non-urgent" construction and renovation projects, and "reducing spending" across each core department. "Unfortunately, those efforts alone will not be enough to address our current financial challenges," the dean wrote. "As a result, we need to lay off some members of our team and restructure other positions to ensure the long-term financial future of the Kennedy School." Weinstein stated that managers would inform staff affected by the layoffs on Wednesday afternoon. "This is an extremely difficult moment, and one that we did everything possible to avoid," Weinstein added. "I am truly sorry that we need to take this step as we navigate unprecedented challenges as a School and University," Weinstein wrote, while also noting that the administration's actions caused "even greater financial uncertainty." The Harvard Kennedy School declined to disclose to Fox News Digital how many staff members were laid off. The Harvard School of Public Health implemented layoffs in April and other schools are considering cutting staff as well, the Harvard Crimson reported Thursday. The Trump administration did not immediately respond to Fox News Digital's request for comment.
Washington Post
3 days ago
- Politics
- Washington Post
'Not something to celebrate': As it turns 80 and faces dwindling global clout, can the UN survive？
UNITED NATIONS — The United Nations, a collaborative global dream built into reality out of the ashes of World War II, marks its 80th anniversary this month. There's little to celebrate. Its clout on the world stage is diminished. Facing major funding cuts from the United States and others, it has been forced to shed jobs and start tackling long-delayed reforms. Its longtime credo of 'multilateralism' is under siege. Its most powerful body, the Security Council, has been blocked from taking action to end the two major wars in Ukraine and Gaza.
News.com.au
3 days ago
- Business
- News.com.au
$33 million disappears from Gold Coast road upgrades and improvements list
Millions of dollars in funding for road upgrades across the Gold Coast have disappeared from the state budget, casting doubt over ten transport projects. More than $33 million is no longer listed in the Queensland Transport and Roads Investment Program (QTRIP) released by the state government this week. The annual document provides a detailed breakdown of projects to be delivered by the Department of Transport and Main Roads and the funding allocations over the coming years. At least ten previously funded Gold Coast projects now appear to have no money budgeted to deliver them in the latest QTRIP covering 2025-26 to 2028-29. Instead, the transport projects are listed as still in the planning phase or have been placed on hold to be delivered at a later date. Gaven MP Meghan Scanlon said she feared the lack of transparency over the funding amounts could mean the projects won't be delivered at all. 'Its been a long-standing tradition from both sides of politics to provide that long-term funding breakdown so Queenslanders can openly see how much money has been allocated,' Ms Scanlon said. 'That's all been swept under the rug, it's kept secret, I suspect because the transport minister made some bold claims that he now can't deliver.' Among the funding amounts that have vanished from QTRIP are: $1.9M to upgrade pedestrian facilities at the Broadbeach Rd and Carrara Rd (Ross St) intersection, Nerang. $1.16M for intersection improvements on Hope Island Rd (Oxley Dr) and Sunbird Ave, Paradise Point. $12.29M for bus infrastructure upgrades on Burleigh Connection Rd and Varsity Lakes Train station. $6M for upgrades on Currumbin Creek Rd and Bienvenue Dr. $1.64M for intersection upgrades on Currumbin Creek Rd and Stewart Rd. $5M for intersection upgrades at Burleigh Rd and Markeri St, Southport. $1.48M intersection improvements at Nerang Rd, Minnie St and Anne St, Southport. $800K for planning on upgrades to Burleigh Rd, Southport. $1.41M for intersection improvements Burleigh Rd and Slayter Ave, Southport. $2.03M for safety improvements on Nerang Rd and Ashmore Rd, Ashmore. Last week the LNP flagged changes to the way QTRIP is published in what Transport Minister Brent Mickelberg said would 'restore respect' for taxpayers' money. 'This is about ending the waste and restoring fiscal discipline to make every dollar stretch further for Queenslanders,' Minister Mickelberg said. 'Labor routinely announced project cost allocations before the market had a chance to competitively tender – locking in big prices and locking out better value.' However Ms Scanlon accused the LNP of failing to be 'transparent' about the changes. 'The problem is, if it's now secret, I think the LNP should come out, be open and transparent with Queenslanders about where this money is,' she said. 'They went to the election saying they were going to be transparent, saying they were going to be a government with integrity. We have seen the complete opposite almost every day from the Crisafulli government.' The Bulletin asked the Transport Minister's office why the previous funding commitments for the Gold Coast projects had disappeared and how they would still be delivered by the government. A spokeswoman for the Minister said: 'All projects are either in planning or about to start procurement. Once the contract has been awarded the full project costs will be disclosed within QTRIP with all the other contracted projects.'
