Trump’s slush fund is gone – but his IRS agreement is a new level of self-dealing | Mohamad Bazzi
Summary
The acting US attorney general announced that the government will stop audits by the IRS into President Trump, his family, and related businesses. This decision follows the cancellation of a $1.8 billion fund intended to compensate Trump’s political allies, which was criticized by Senate Republicans.Key Facts
- Todd Blanche, acting US attorney general and former lawyer for President Trump, announced the end of IRS audits on Trump and his associates.
- The government had planned a $1.8 billion fund to pay Trump’s political allies who claimed unfair prosecution, but this plan was abandoned.
- President Trump sued the US government for $10 billion over the unauthorized release of his past tax returns.
- The Justice Department settled the lawsuit by creating the compensation fund and stopping IRS audits of Trump’s past tax returns.
- The IRS immunity agreement could protect Trump from investigations dating back to 2010 and potentially save him over $100 million.
- Laws exist to prevent presidents from interfering with IRS audits, created after abuses during Nixon’s administration.
- It is unclear if Blanche had the legal authority to stop IRS audits, as the IRS reports to the Treasury Department.
- This situation raises questions about possible conflicts of interest and the rule of law regarding IRS independence.
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