All NewsEducationTV
Equities & FundsCrypto & Digital AssetsAI & TechnologyBusiness & CorporateUS Politics & PolicyGeopolitics & Global RiskMacro, Rates & FXCommodities & EnergyEuropean Politics & MarketsAsia-PacificReal Estate & Property
Story archiveAll categories
← All Stories

Critics decry Blanche deal on Trump fund as 'hollow'

Created at 3 Aug · 8:51 PM1 source↑ Market-relevant
IN SHORT

Acting Attorney General Todd Blanche's deal with Republican senators to halt a controversial "weaponization fund" is being criticized by Democrats and legal experts as easily reversible by Donald Trump. Critics argue the assurances do not prevent Trump from reviving the fund or seeking similar payouts for allies.

✉Newsletter

PiQ Daily

Pick your topics. Get only what matters, on your cadence.

Key Numbers

$1.8bnweaponization fund amount
18 Maydate of original order
$10bnTrump lawsuit amount
$100mpotential penalty Trump could avoid

Who's Involved

Todd Blanche
Acting Attorney General, struck a deal to halt a controversial fund
John Cornyn
Republican Senator, supported Blanche after deal
Thom Tillis
Republican Senator, supported Blanche after deal
Donald Trump
Praised the fund and expressed uncertainty about the agreement
Brandon DeBot
Policy Director at the Tax Law Center at NYU, called assurances "not worth the paper they're written on"
Jamie Raskin
Ranking Democrat on the House Judiciary Committee, called the announcement "hollow words"
Adam Schiff
California Democrat and member of the Senate Judiciary Committee, stated the deal doesn't prevent future payouts
Virginia Canter
Chief Counsel at Democracy Defenders Action, called the agreement "completely hollow"
Skye Perryman
President of Democracy Forward, stated DoJ seeks to preserve favor with the president
Mike Howell
Ally of Trump and director of the Oversight Project, stated the deal can be undone

↳ Why This Matters

The controversy surrounding the "weaponization fund" and tax immunity raises concerns about the potential misuse of government power for personal or political gain, and the integrity of legal and financial processes. Critics fear that without congressional action, such schemes could be revived, undermining public trust and potentially benefiting individuals involved in illegal activities.

Key facts

  • Acting Attorney General Todd Blanche reached a deal with Senators John Cornyn and Thom Tillis.
  • The deal involves withdrawing an order for an $1.8bn "weaponization fund" and clarifying tax immunity for Donald Trump.
  • Critics argue the assurances are not legally binding and can be easily reversed by Trump.
  • The original settlement agreement creating the fund remains unmodified.
  • Democrats and legal experts believe congressional action is needed to permanently halt the fund and related immunity.

A compromise brokered by Senators John Cornyn and Thom Tillis with Acting Attorney General Todd Blanche has drawn sharp criticism from Democrats and legal experts, who argue it does little to permanently halt a controversial "weaponization fund" and broad tax immunity granted to Donald Trump and his associates. Blanche released documents Sunday evening rescinding an order that would have created an $1.8 billion fund and clarifying that tax immunity was retroactive only to Trump, his sons, and businesses. However, critics contend these assurances are not legally binding and can be easily reversed by Trump, who has publicly praised the fund and expressed ignorance of the agreement.

Legal experts like Brandon DeBot of the Tax Law Center at NYU stated the assurances are "not worth the paper they're written on" and do not prevent Trump from reviving the fund or seeking similar unauthorized immunity from tax audits. Jamie Raskin, ranking Democrat on the House Judiciary Committee, called the announcement "hollow words" that do not prevent the Justice Department from creating the fund under a different name. Similarly, Adam Schiff, a California Democrat, noted the deal does not prevent future payouts to January 6 defendants or the use of the DOJ's Judgment Fund for similar purposes.

The original settlement agreement, stemming from a $10 billion lawsuit filed by Trump and his businesses over the unauthorized release of his tax returns, remains unmodified. This means Trump or his sons could theoretically sue to enforce it. Virginia Canter, chief counsel at Democracy Defenders Action, described the agreement as "completely hollow" because it cannot be modified without all parties' consent, allowing Blanche to reverse course. Skye Perryman, president of Democracy Forward, suggested the Justice Department is trying to appease the Senate while preserving favor with Trump by not making court-backed commitments. Even some Trump allies, like Mike Howell of the Oversight Project, believe the documents can be undone, asserting the "weaponization fund is great."

Frequently asked questions

The fund was an $1.8 billion initiative proposed by the Justice Department as part of a settlement in a lawsuit filed by Donald Trump and his businesses over the unauthorized release of his tax returns. Critics alleged it was a "slush fund" that could be used to improperly benefit Trump and his allies.

Todd Blanche agreed to withdraw an order allowing the creation of the fund and clarified that tax immunity granted by the Justice Department was retroactive only to Trump, his sons, and businesses. This was part of a deal to secure support for his confirmation as attorney general.

Critics argue the assurances are not legally binding and can be easily reversed by Donald Trump. They believe the underlying settlement agreement remains unchanged, allowing the fund to be revived or similar payouts to be made through other means, such as the Federal Tort Claims Act.

The tax immunity granted in the settlement could potentially free Trump from penalties related to past tax audits, a move that critics argue is an improper use of government power and an affront to the public.

What Happens Next

01The Senate Judiciary Committee will vote on Blanche's nomination on Tuesday.
02Democrats may pursue congressional action to permanently block the fund and related immunity.

Get the newsletter.

Pick the topics you actually care about. We'll email when there's news worth your time, on the cadence you choose. Cancel any time from your account.

Cadence

How It Developed

Todd Blanche announced a deal with Senators John Cornyn and Thom Tillis.
The deal aims to address concerns over a "weaponization fund" and tax immunity for Donald Trump.
Cornyn and Tillis stated they would support Blanche's confirmation as attorney general.
Critics, including legal experts and Democrats, called the assurances "hollow" and easily reversible.
Donald Trump praised the fund and expressed uncertainty about the agreement.
Democrats argue the deal does not prevent future payouts to January 6 defendants or the revival of the fund under a different name.

Sources

T1
‘Completely hollow’: critics denounce Blanche deal to halt Trump slush fundThe Guardian

Related Stories

Todd Blanche confirmation nears as Trump tax audit immunity deal remains
3 Aug · 3:46 AM
Trump criticizes prosecutor for dropping Reflecting Pool vandalism case
3 Aug · 5:06 PM
Trump criticizes Exxon, Chevron for 'too much money' in profits
3 Aug · 8:16 PM
Trump criticizes prosecutor Jeanine Pirro over Reflecting Pool charges
3 Aug · 8:16 PM
Trump administration asks colleges to commit to education overhaul
3 Aug · 4:56 PM