President Donald Trump voluntarily dropped his $10 billion against the IRS on Monday in exchange for a $1.8 billion “anti-weaponization” fund that is expected to pay out money to Jan. 6 rioters, a broadly controversial move that’s already drawn widespread outrage from Democrats and ethics experts.
President Donald Trump speaks to reporters aboard Air Force One on May 15.
Trump filed a notice with the court Monday saying he had voluntarily dismissed his $10 billion lawsuit against the IRS, which alleges the IRS failed to properly protect his tax returns after a contractor passed details of the president’s taxes on to news outlets.
While that filing did not mention a settlement, the Justice Department filed a notice Monday announcing the creation of a new $1.776 billion “Anti-Weaponization Fund” as part of settling the case, confirming reporting from ABC News last week that Trump intended to settle in exchange for the government creating a fund for those who claimed they were unfairly punished by the Biden administration—including Jan. 6 rioters.
It is unclear if there are any other terms of the settlement, after The New York Times previously reported the settlement could also come in exchange for the IRS dropping its tax audits into Trump, his family and his businesses.
