"Bessent stuttered, then said, when pushed: "It would come from Treasury.... The Treasury General Account," referring to the account that tax payments flow into that the government uses for payments and other purposes. "So, taxpayers," Gallego said. "Yes," Bessent answered. "Part of the 440,000 taxpayers whose returns were leaked. "They're not suing," the senator clarified, adding, "If the president prevails in this lawsuit, he's going to be able to pocket that money.""
"The admission that Trump and his associates would be pilfering $10 billion from taxpayers and potentially using his power as president to do so is staggering, and only the latest instance of Trump's rampant corruption and self-dealing as he slashes life-saving social programs for millions of Americans. A recent analysis found that Trump and his family have made almost $4 billion off of his presidency so far, including about $1 billion from his crypto empire that he launched just ahead of his inauguration last January."
Treasury Secretary Scott Bessent confirmed that a successful $10 billion lawsuit by President Donald Trump against the IRS would be paid from the Treasury General Account where tax receipts are held. Senators and witnesses noted that the disbursement would effectively be taxpayer-funded and referenced roughly 440,000 taxpayers whose returns were leaked. Lawmakers warned that a court victory could allow the president to receive those funds. The report also cites analysis estimating that Trump and his family have profited nearly $4 billion during his presidency, including about $1 billion from a crypto venture. Trump may seek a settlement with the IRS.
Read at Truthout
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