Donald Trump may be backing away from one of his most controversial financial moves yet. The president is reportedly reconsidering a $1.8 billion fund that has drawn bipartisan backlash and legal challenges.
Donald Trump reportedly reconsidering $1.8B plan
Donald Trump is reportedly reconsidering his $1.8 billion “anti-weaponization” fund, according to The Guardian. A person familiar with his thinking confirmed the development on Monday. The Justice Department has paused the program to comply with a court order.
The fund has faced legal setbacks since its announcement two weeks ago. Republicans have expressed concern over a lack of oversight within the program. The possibility of payouts to January 6 riot participants has fueled further political backlash. Senate Majority Leader John Thune addressed the growing controversy directly.
“I do think the best way to handle it is if the administration decides to shut [the fund] down themselves,” Thune told reporters.
Democrats have vowed to force Republicans to vote on the fund in the Senate. Senate Minority Leader Chuck Schumer called it a corrupt scheme in a letter to colleagues. “Trump’s nearly $2bn Maga slush fund is his most brazen act of self-dealing yet and one of the most corrupt schemes ever launched by a president,” Schumer wrote. “Senate Democrats will not let it stand.”
The fund emerged from a settlement in Trump’s lawsuit against the IRS over leaked tax returns. The IRS did not defend itself in the case, raising accusations of collusion. US District Judge Leonie Brinkema temporarily blocked money transfers from the fund on Friday. Democracy Forward had filed a lawsuit seeking to dissolve it entirely.
Former Vice President Mike Pence called the prospect of compensating rioters who assaulted police officers “deeply offensive.” He shared his view on Meet the Press on NBC on Sunday. “And I think that’s broadly held by most Republicans and most Americans,” Pence said. California Governor Gavin Newsom has proposed a 100% income tax on any fund distributions. Illinois, New York, and Connecticut have floated similar proposals.
Originally reported by Vritti Johar on Mandatory.com.
