For any new grant issued, and for all existing grants to IHEs retroactive to the date of issuance of this Supplemental Guidance, award recipients are subject to a 15 percent indirect cost rate.

From the NIH announcement.

My university is slated to lose eight digits in budgeted and contractually obligated F&As. Virtually every university is gearing up to sue to NIH if NIH tries to withhold these contractually obligated funds like they say they’re going to.

F&As cover things like hazardous waste disposal. Maybe to cut costs, we can just dump our hazardous chemicals in your backyard.

And those private nonprofit grants lose universities money: https://web.mit.edu/fnl/volume/295/zuber.html