President Trump has been suing the IRS because of an illegal leak of his 2019 tax returns.
He initially wanted $10 billion in damages.
Subscribe to view the full article, including all images, videos, and social media embeds.
Here's CNBC with some detail:
President Donald Trump, his two eldest sons, and the Trump Organization dropped their $10 billion lawsuit against the Internal Revenue Service on Monday, according to a Miami federal court filing.
The filing by Trump's lawyers did not say what led to the surprising move, but it suggested it effectively barred a judge from analyzing whether the president's civil suit was legally valid and from dismissing it if she finds it is invalid.
Trump and sons dismissed the case "with prejudice," meaning that it cannot be brought up again.
So, why did Trump choose to drop the case now? Did he have no chance? No standing?
Last week, ABC News reported a rumor that a settlement was being worked out so that "Trump allies" could have access to $1.7 billion as compensation for being targeted by the federal government under Joe Biden.
No statement from either party confirm such a deal. CNN, however, is reporting that this appears to be happening.
President Donald Trump is dropping his $10 billion lawsuit against the Internal Revenue Service, according to court documents, a signal that the administration is preparing to go forward with a plan to set up a $1.8 billion fund that would compensate those who believe they were subject to unfair investigations under previous administrations.
Translation: This fund would help to provide justice for those unlawfully targeted by the feds under Obama and Biden.
Here is the New York Post reporting on said deal:
President Trump has dismissed his $10 billion lawsuit against the IRS in exchange for an apology and the establishment of a $1.776 billion fund to compensate victims of federal government weaponization.
$1.776 billion?? 🇺🇸
Anyone who believes they have been unfairly targeted by any administration could apply for compensation from the Justice Department's new Anti-Weaponization Fund — including those charged in connection with the Jan. 6, 2021, Capitol riot and even disgraced former first son Hunter Biden, a senior administration official told The Post.
'The point of this isn't to make every January 6-er a millionaire,' the official said. 'The point is to compensate, and to give entitled people back some of their dignity and some of what they lost, including money, whether it's for legal fees or other costs associated with what they went through.'
This seems to be a way for Americans who have been unconstitutionally targeted by the feds to get a little bit of justice.
Subscribe to view the full article, including all images, videos, and social media embeds.
Enjoying this article? Subscribe for full access.
Subscribers see every embed, image, and video inline — plus comments and our fully-featured social platform.