Top Senate Democrats push Trump-affiliated companies for answers about IRS settlement [View all]

Source: CBS News

July 7, 2026 / 6:00 AM EDT


Top Senate Democrats are pushing for answers on whether a provision in a controversial settlement agreement between President Trump and his own administration applies to companies co-founded by or affiliated with the Trump family.

As part of a deal struck in May by the Justice Department to resolve a lawsuit brought by Mr. Trump, the Internal Revenue Service is permanently barred from pursuing claims against Mr. Trump, his oldest sons Don Jr. and Eric, and the Trump Organization based on prior tax returns.

In a one-page document signed by Acting Attorney General Todd Blanche and dated May 19, the Justice Department said the defendants in the president's lawsuit — the IRS and the Treasury Department — are "FOREVER BARRED and PRECLUDED" from "prosecuting or pursuing, any and all claims" arising from tax returns filed before the settlement took effect. Blanche also wrote that the settlement applies to "parties including trusts, parent, sister, or related companies, affiliates, and subsidiaries."

Now, Senators Elizabeth Warren of Massachusetts, Senate Minority Leader Chuck Schumer of New York, and Ranking Member of the Senate Finance Committee Ron Wyden of Oregon are pushing 11 businesses and organizations with ties to the Trump family to get answers for the "significant questions" the settlement raises relating to the tax audit provision, and whether the companies are included in the deal.

Read more: https://www.cbsnews.com/news/senate-democrats-push-trump-affiliated-companies-irs-settlement/