Trump dismisses $10bn suit against IRS and creates $1.7bn ‘anti-weaponization’ fund

Democrats criticize deal as a slush fund that ‘funnels taxpayer dollars’ to president’s political allies Sign up for the Breaking News US newsletter email The justice department announced on Monday it was creating a loosely controlled and secretive $1.776bn fund to compensate Donald Trump allies as part of an agreement in which the president and his sons dropped a $10bn long-shot lawsuit against the IRS. The money, which critics said was essentially a slush fund, will be overseen by five commissioners – four of whom would be appointed by the attorney general and removable by Trump – who would oversee the body’s work. A fifth commissioner will be appointed “in consultation” with congressional leadership. The fund also has the power to issue “formal apologies” and will send a quarterly confidential report to the US attorney general outlining who has been paid from the fund. There is no requirement that the fund’s work be made public. “Once the funds are deposited into the designated account, the United States has no liability whatsoever for the protection or safeguarding of those funds, regardless of bank failure, fraudulent transfers, or any other fraud or mi