A proposed $1.776 billion IRS-related settlement fund would allow people who believe they were unfairly targeted by the IRS or DOJ under the Biden administration to file claims. Critics call it a slush fund benefiting the president’s allies. Reporting indicates the fund would be overseen by third parties and would not directly pay the president. The arrangement reportedly emerged after lawyers could not find a legal way to pay the president. Trump is suing the IRS for $10 billion over a former official leaking his tax returns while he was a private citizen. Clayton said anyone whose tax returns were intentionally leaked should have recourse against the government. He said he would take the settlement on either side, while hosts questioned the optics of Trump settling with his own government and whether he could benefit from audit non-lookback provisions.
"Clayton joined Squawk Box, where Sorkin brought up reports of a potential fund being set up that would allow people who feel they were unfairly targeted by the IRS or DOJ under former President Joe Biden to file claims. Critics have described the potential fund as a slush fund for the president's allies. According to reporting from ABC News, the fund would be overseen by third parties and not directly pay the president. The deal was reportedly devised after lawyers were unable to find a legal avenue to pay the president."
"Sorkin asked about the perception of such a fund and the implications as Trump would be settling with a government he's technically in charge of. Clayton said anybody whose tax returns have been intentionally leaked should have recourse against the government. $10 billion worth of recourse? Kernen asked, adding, It doesn't smell right that Trump would be settling with his own government. Kernen pressed further, noting that even a number of conservative voices have raised concerns about the potential fund."
"So did he get any money out of his tax returns being leaked? Clayton asked. By settling and putting this provision to not look back at his audits, he could have benefited, Kernen countered. Would you take that settlement? I'd take that settlement, on either side, Clayton said. I'm trying to help you here, Andrew, and you're silent, Kernen said. I'm trying to understand why you'd say, look, my question is slightly different, Jay. You said you take the settlement on either side, and I'm just trying to understand why do you take that settlement on the other side, Sorkin said."
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