Trump plans to drop 'weaponization' fund, says Axios
Tweet
Share
E-mail
U.S. President Donald Trump speaks during a cabinet meeting in the Cabinet Room at the White House, in Washington, D.C., U.S., May 27, 2026. REUTERS/Evan Vucci
WASHINGTON, June 1 (Reuters) - U.S. President Donald Trump plans to drop his $1.8 billion "anti-weaponization" fund that would have benefited political allies, Axios reported on Monday, after a firestorm of criticism including from some of his fellow Republicans.
"It's dead for now," said one of two senior administration officials cited by Axios.
The fund, which would compensate victims of political "weaponization" with taxpayer money, emerged from a legal settlement between Trump's Justice Department and the Internal Revenue Service to resolve an unprecedented lawsuit in which the president had sought $10 billion over the alleged mishandling of his tax records.
The announcement set off criticism, with lawmakers raising concerns about potential self-dealing by Trump, and the prospect of payouts to violent Trump supporters who stormed the U.S. Capitol and assaulted police on January 6, 2021.
On Friday, a federal judge temporarily blocked the administration from moving forward with the fund.
(Reporting by Ismail Shakil and Doina Chiacu;Editing by David Ljunggren and Daphne Psaledakis)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Berkshire buys more Alphabet, which becomes its third-largest stock investment
- SEC proposes easing 'pay-to-play' rules for investment advisers
- Idaho must allow abortions to preserve women's health, US judge rules
Create E-mail Alert Related Categories
ReutersRelated Entities
Donald J. TrumpSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
