CLEVELAND, Ohio - Ohio receives nearly $40 billion in federal funding. So what happens if President Trump shuts off spending? We’re talking about the wideranging affects of a federal freeze on daily life on Today in Ohio.

President Donald Trump has rescinded an order freezing an array of federal grants, loans and financial assistance, a dramatic reversal after days of uncertainty and anxiety rocked governments and nonprofit organizations.

The Trump administration reversed its policy to freeze grants and loans while officials evaluated whether spending met the president's priorities.

The Trump administration on Wednesday rolled back its sweeping freeze of federal assistance, which roiled Washington and caused widespread confusion, according to a copy of an Office of Management and Budget memo obtained by POLITICO.

A freeze on federal grant and loan funding that President Donald Trump announced this week left Ohio agencies, universities, and companies that receive federal money in a state of uncertainty as they weighed how to cope with a new policy that jeopardizes billions of dollars they expected to receive.

A federal judge has temporarily blocked a Trump administration freeze on federal grants and loans that could total trillions of dollars

In a two-page memo, the Office of Management and Budget ordered all federal agencies to temporarily suspend payments.