"Staggering Corruption": Rep. Raskin on Trump's $10B IRS Lawsuit, Stock Trades & Family Business - Democracy Now!

May 18, 2026
Donald Trump on Monday dropped his $10 billion lawsuit against the Internal Revenue Service over a leak of his personal and business tax records, a bizarre case of a sitting president suing his own government and essentially acting as both plaintiff and defendant. This comes amid reports that Trump's Department of Justice was considering settling the case in exchange for the creation of a $1.7 billion fund to compensate victims of so-called weaponization of the DOJ under the Biden and Obama administrations. Trump allies who participated in the January 6, 2021, attack on the Capitol could file claims and be compensated.

"They want a $1.7 billion slush fund, which comes to a million dollars a head in terms of Proud Boys, the Oath Keepers, the insurrectionists, with $100 million left over of taxpayer money to spread around in different ways," says Congressmember Jamie Raskin of Maryland, the top Democrat on the House Judiciary Committee, who spoke with Democracy Now! shortly before news broke of Trump dropping the IRS lawsuit.

Raskin last week introduced the Protecting Our Democracy Act, which is geared toward curbing the president's profiteering from public office. "Corruption is the whole purpose of the Trump administration," says Raskin. "It's not like some eccentric peripheral thing; it's a vast money-making operation."