The post USAID contractors warn of multiple shutdowns amid Trump-Musk DOGE takeovers appeared on BitcoinEthereumNews.com.

Trump and Musk have instilled fear in business people about losing their funds. Contractors that USAID owes tens of millions of dollars say they might have to shut down or face cases all over the developing world. In fact, new court filings make the claims, which include threats of physical harm to overseas employees over unpaid debts.  USAID was previously in charge of about $43 billion, and most of its work is done by contractors around the world. Some companies undertake hundreds of millions of dollars worth of development projects every year, but they usually don’t make much money from them. Therefore, many contractors have been affected, and some even lose their credibility. For instance, one big company said US banks won’t lend it more money because they’re afraid the US government won’t keep its funding promises. Yesterday, a judge told the US government it had to pay what it owed by Wednesday midnight. The US government appealed the decision a few hours later. The plaintiffs have repeatedly said that the Trump administration has disregarded the court’s decisions. President Trump and Elon Musk believe that USAID should be shut down. Most of USAID’s 10,000 workers have been put on administrative leave, and dozens of contracts have been canceled.  USAID contractors risk fines, tax penalties, and legal action from vendors One plaintiff, DAI Global LLC, said it has not received any payments from USAID for the $115 million it is owed. Apparently, $70 million is at least 30 days past due. The company has been overseeing US-funded projects in Afghanistan and Iraq after the terrorist attacks of September 11, 2001. Now, a $75 million operating capital facility has already been “tapped out.”  DAI has already let go of more than 500 US-based employees. It could face fines, tax penalties, and legal…

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Filed under: News - @ February 26, 2025 3:27 pm