Democrats blast possible Trump IRS settlement as a slush fund
ABC News reports President Donald Trump may settle a 2022 lawsuit against the Internal Revenue Service in exchange for a $1.7 billion fund to compensate his political allies. Democrats in Congress say they worry the money's distribution could be controlled by people close to Mr Trump. The White House confirmed talks are underway and said any fund would be created within the bounds of the law.
President Donald Trump is in discussions with the Department of Justice to settle a 2022 lawsuit against the Internal Revenue Service. According to ABC News sources, the prospective settlement would create a $1.7 billion fund that could pay people in the president's orbit. The White House has acknowledged that talks are underway.
Congressional Democrats said the oversight mechanisms for who manages the fund and which recipients receive payments are unclear. Senator Elizabeth Warren and Representative Jamie Raskin said that if the money flowed to Mr Trump's donors and close associates, the arrangement could amount to a slush fund.
A White House spokesperson said the settlement remains in draft form and that the fund could be administered by an independent board. The Justice Department declined to comment publicly. Democrats said they plan to put the matter before congressional oversight committees before the end of the fiscal year.
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