Newsom to impose 100% tax on California payees of Trump’s $1.8bn fund
Summary
California Governor Gavin Newsom plans to tax 100% of any payments from Donald Trump’s $1.776 billion fund for alleged victims of political targeting. This fund was set up as part of a settlement between President Trump and the IRS after Trump sued over his leaked tax returns.Key Facts
- The fund, called the “anti-weaponization fund,” is worth $1.776 billion.
- It aims to compensate people claiming to be victims of political or legal targeting, but it's unclear who qualifies.
- The fund comes from a settlement between President Trump and the IRS.
- Governor Newsom wants California to tax all money paid from this fund to state residents at 100%.
- Some critics suggest the fund could help people arrested during the January 6, 2021 Capitol attack.
- Five officials appointed by the US attorney general will manage the fund.
- Claims for compensation must be filed by December 1, 2028, or remaining money goes back to the government.
- Newsom and President Trump have a history of public disagreements on several political issues.
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