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The supplementary agreement is even more ruthless than the main text, and the acting minister signed it quite smoothly.
This is incredible!!! Special treatment!!!
"Trump family granted permanent exemption from current tax audits." According to ABC News on May 19, the U.S. Department of Justice has signed an agreement announcing a "permanent ban" on the IRS reviewing President Trump's and his family's and company's past tax returns. The DOJ also agreed to establish a nearly $1.8 billion fund to compensate "Trump allies who have been unfairly prosecuted."
In January this year, Trump sued the IRS in a federal court in Florida, accusing IRS employees of leaking his tax information between 2019 and 2020, seeking $10 billion in damages. On May 18 local time, Trump reached a settlement with the DOJ, which agreed to set up a "De-weaponization Fund" in exchange for Trump dropping the lawsuit.
According to the agreement, the U.S. federal government will provide $1.78B to this fund, specifically to compensate individuals claiming to have been targeted during the Biden administration. It is widely believed that Trump's allies will be the main beneficiaries of the fund. The fund will be managed by five people, whom Trump can dismiss at any time, without publicly disclosing the recipients or reasons for the funding.
On May 19, U.S. Acting Attorney General Todd Branch signed and issued a supplemental agreement that makes greater concessions to Trump.
The report states that the supplemental agreement will prohibit the U.S. government from auditing Trump's and his family's and company's past tax returns. The document stipulates that for any issues arising from "currently under review or potentially under review" by the IRS or other agencies, the IRS will be "permanently prohibited" from suing or holding Trump and his family accountable.
ABC pointed out that the settlement agreement prohibits Trump from directly receiving funds from the "De-weaponization Fund," but the supplemental agreement's ban on auditing past tax returns could still allow Trump to profit substantially. In 2024, The New York Times estimated that long-term audits of Trump's taxes could result in fines exceeding $100 million. #30年期美债收益率突破5% $BTC