The Justice Department is preparing to solicit applications for up to USD 3.5bln in grants to pay for mostly immigration-related law enforcement programs, equipment and personnel, multiple sources familiar with the plans told CBS News.

The Justice Department's plan to solicit applications for significant funding aimed at immigration-related law enforcement indicates a commitment to address border and immigration issues. This move could affect public sentiment and regulatory frameworks, potentially having downstream impacts on related sectors, including security and immigration services. Investors should consider how increased funding may influence fiscal policy or shape market sentiment towards related industries and currencies.