What are good resources to read up on funding policies, especially pertaining to biology in the United States? I am a biology PhD. student in the United States. I would like to know a little bit more on how to navigate the politics and processes that guide grant funding. In addition to this I am looking for good resources to keep up with news that might impact or change these policies. I guess in short, what are some reputable sites, blogs, news sources, literature or books to help with this?

By tracking policy I meant any good resources that track any legislature or incentives that are being passed that might impact the amount of money going into grant funding. I am also just genuinely interested in the grant funding process or any insightful resources on how to best navigate the whole process.
There are a few blogs that I find highly informative regarding the politics, changes, and historical trends affecting science funding in the United States.

Drugmonkey often blogs about the NIH. Recent examples include:


NCI will ease that difficult transition to postdoc
Congress let the NIH drop the HIV/AIDS set-aside: Implications for NIDA?
RFAs do not narrow the NIH portfolio, quite the opposite.
NIH grant application changes are in the offing


Prof-like Substance blogs a fair bit about goings-on affecting the NSF, especially IOS and DEB divisions and also generally the BIO directorate, including historical trends and recent changes in proposal and funding procedures. Recent examples:


Your DEB panel summary will look a bit different this year
What you learn from reviewing a batch of proposals
My love/hate relationship with NSF preproposals
How do we make NSF science more sustainable?
Some depressing NSF DEB stats


There's also the blog of the NIH Office of Extramural Research, which is often very informative. I especially appreciate the posts that reveal data about internal workings and funding patterns of the NIH. Examples:


Understanding the Capacity of NIH’s Peer Review System 
What are the Chances of Getting Funded?
Lab Size and Strategic Support of Science: Thoughts on Finding the Right Mix
Update on the Postdoctoral Benefit Survey


Science Insider reports on science policy. Examples include: 


Decision to end monkey experiments based on finances, not animal rights, NIH says
NIH releases first agency-wide strategic plan in 2 decades
Budget agreement boosts U.S. science