Trump's $1.8 Billion Fund Is 'Not Moving Forward, Period' After Firestorm, But President's IRS Tax Audit Shield Remains

Benzinga_recent_news06-03

The Trump administration is scrapping plans for a nearly $1.8 billion fund that would have compensated allies of President Donald Trump, Acting Attorney General Todd Blanche told lawmakers Tuesday, ...

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Acting AG Todd Blanche says fund will not proceed.","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IRS":"IRSA Inversiones y Representacio","BK4233":"房地产运营公司","BK4205":"房地产经营公司"},"translate_title":"风暴过后，特朗普的18亿美元基金“没有向前推进”，但总统的国税局税务审计盾仍然存在","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"IRS":1.5},"content_text":"The Trump administration is scrapping plans for a nearly $1.8 billion fund that would have compensated allies of President Donald Trump, Acting Attorney General Todd Blanche told lawmakers Tuesday, retreating from a program that drew fierce political backlash and threatened to stall key parts of the White House agenda.\n\"We are not moving forward with the fund, period,\" Blanche said during a House hearing on the Justice Department budget, according to Reuters. Rep. Grace Meng (D-N.Y.) pressed him further, asking, \"Not moving forward ever?\" Blanche answered, \"Correct.\"\nThe blunt declaration marked a rare Trump administration reversal in the face of mounting opposition to a fund that officials said was designed to compensate people who believed the criminal justice system had improperly targeted them.\nSince officials established the fund on May 18, a judge paused it and Democrats and Republicans criticized it. Lawmakers said they were troubled by limited oversight and by the possibility that people involved in the Jan. 6, 2021, attack on the U.S. Capitol could receive taxpayer-funded payouts.\nPressed on whether the administration would also abandon that part of the settlement, Blanche said \"nothing has changed with that.\" He said the administration was only backing away from the $1.8 billion fund.\nSigns of the retreat surfaced Monday, when a person familiar with the matter told The Associated Press that Trump was reconsidering the fund. The Justice Department separately said it would comply with a Virginia court order temporarily blocking the fund for at least several weeks.\nAt Tuesday's hearing, Democratic lawmakers pressed Blanche to put the fund's cancellation in writing. Blanche refused. \"Why do I need to put something in writing?\" he said. \"I'm not committing to doing anything in writing.\"\nRep. Rosa DeLauro (D-Conn.) said Blanche should not have signed off on the tax-audit provision because he formerly served as Trump's personal attorney. Blanche said the agreement did not give Trump \"blanket immunity\" and rejected her criticism.\nA source close to Trump told Reuters on Monday that the president is \"not thrilled,\" but accepts the pause as the only path forward \"for now.\"\nImage via Shutterstock/ Robert V Schwemmer\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.44.0","shortVersion":"4.44.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2640976694","isCrawlerRequest":true}