California's Bold Tax Move: State to Impose 100% Levy on Trump's Victim Fund
California has announced a 100% tax on payments distributed from a nearly $1.8 billion fund for victims of alleged political weaponization, created under the Trump administration. Governor Gavin Newsom labeled the fund as a 'slush fund,' amid ongoing legal challenges and political controversy.
In an unprecedented move, California Governor Gavin Newsom has announced a 100% tax on payments from a fund established under the Trump administration. The nearly $1.8 billion fund was intended for victims of what was described as political 'weaponization.'
Newsom's office characterized the fund as a 'slush fund,' while noting that the state is determined to fully tax any beneficiaries within its jurisdiction. The fund emerged from a legal settlement following Trump's lawsuit against the IRS over leaked tax returns.
The decision has sparked a political and legal debate, with some questioning the fund's legality and appropriateness. Critics, including Republican Senator Thom Tillis, argue that the fund could improperly compensate individuals involved in past criminal activities.
(With inputs from agencies.)
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