Treasury Secretary Declines to Address IRS Audit Immunity Status
The Treasury secretary declined to confirm whether an IRS audit immunity provision remains in effect after the administration abandoned a related compensation fund. Lawmakers pressed for details during a Senate hearing on the department's budget.
FortuneTreasury Secretary Scott Bessent declined to say Wednesday whether an IRS audit immunity provision tied to a now-abandoned compensation fund remains in effect. Bessent told the Senate Finance Committee that ongoing litigation prevented him from commenting. The $1.776 billion fund had been intended to compensate the president's allies and was scrapped after bipartisan opposition.
Democratic senators questioned Bessent repeatedly without receiving a direct answer. Sen. Catherine Cortez Masto, D-Nev., said the responses amounted to dodging the issue. Sen. Ron Wyden, D-Ore., asked whether the IRS audit immunity for the president, family members, and businesses still stands. Bessent again cited the unresolved legal dispute.
Background on the Settlement The compensation fund was part of a proposed resolution to a $10 billion lawsuit against the IRS. Acting Attorney General Todd Blanche had indicated Tuesday that the audit immunity portion remained unchanged. A federal judge in Florida reopened the case last week and ordered the president's attorneys to respond to allegations that claims were abandoned to avoid scrutiny of the deal.
A former New Jersey attorney general now representing challengers to the settlement said the testimony underscores the need for continued court review.
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