The top Democrat on the House Judiciary Committee on Thursday accused US President Donald Trump of “orchestrating a $1,700,000,000 fraud on the American taxpayer to line the pockets of his MAGA political allies” amid new reporting on the terms Trump is seeking in talks to settle his $10 billion lawsuit against the Internal Revenue Service.
ABC News reported late Thursday that Trump is expected to drop his lawsuit in the coming days “in exchange for the creation of a $1.7 billion fund to compensate allies who claim they were wrongfully targeted by the Biden administration.” The money would come from the Treasury Department’s Judgment Fund, which pays out court judgments and settlements against the federal government.
The president is also expected to receive a public apology from the IRS for the leak of his tax returns during his first White House term.
Rep. Jamie Raskin (D-Md.) said in a statement that the reported settlement terms represent “another installment” in Trump’s “ongoing effort to turn the federal government into a personal cash machine for his unpopular extremist movement.”
“This is a massive and unprecedented presidential plunder of the American people,” said Raskin. “Worse still, this is only the beginning—a declaration that the prior payouts were just a down payment, and that he now intends to earmark billions more in taxpayer dollars for his political allies, sycophants, and private militia of unemployed insurrectionists.”
“The president has no authority to conjure up billion-dollar compensation schemes or raid the Judgment Fund, which exists to settle valid lawsuits. Trump is systematically converting neutral government mechanisms into a presidential slush fund to build his army of political dependents,” Raskin continued. “Congress must act immediately to reassert the power of the purse and stop this brazen looting of taxpayer funds before this ‘pilot program’ for corruption becomes the permanent operating system of our government.”
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The US Justice Department has reportedly subpoenaed The Wall Street Journal and other news outlets at the urging of President Donald Trump, who has complained incessantly about coverage of his illegal and disastrous Iran war.
The Journal reported Monday that it received grand jury subpoenas dated March 4 for records of its journalists as Trump pushed the Justice Department—now led by his former personal attorney, Todd Blanche—to investigate war-related leaks. “Blanche vowed to secure subpoenas specifically targeting the records of reporters who have worked on sensitive national security stories,” the Journal reported, citing an unnamed administration official.
During one meeting, the Journal reported, “Trump passed a stack of news articles he and other senior officials thought threatened national security to Blanche with a sticky note on it that said ‘treason.’”
Trump and other top administration officials, including Pentagon Secretary Pete Hegseth, have publicly voiced outrage over the US media’s Iran war coverage and threatened reporters who publish classified information—a common journalistic practice.
In April, Trump said he would work to imprison journalists involved in reporting on a US fighter jet shot down in Iran and subsequent efforts to rescue the warplane’s crew. The previous month, Trump floated “charges for treason” against journalists he accused of circulating “false information” about the Iran war.
Ashok Sinha, the chief communications officer of Dow Jones, the Journal’s publisher, said in a statement that “the government’s subpoenas to The Wall Street Journal and our reporters represent an attack on constitutionally protected newsgathering.”
“We will vigorously oppose this effort to stifle and intimidate essential reporting,” said Sinha.
The subpoena targeting Journal reporters pertained to “a February 23 article that reported that Gen. Dan Caine, the chairman of the Joint Chiefs of Staff, and others at the Pentagon warned the president about the risks of an extended military campaign against Iran,” the newspaper reported Monday.
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A significant majority of Americans agree that there is too much money in the US political system and that the super rich have more influence over election outcomes than ordinary citizens, a poll published by Politico on Saturday found.
The poll comes after outside spending in the 2024 election broke records, with richest-man-alive Elon Musk pouring over $250 million into President Donald Trump’s campaign.
“In 2024, the maximum individual donation per candidate was $3,300. Elon Musk donated $277 million to elect Trump because of the loopholes Citizens United created for billionaires to buy elections,” Campaign for New York Health executive director Melanie D’Arrigo wrote on social media Sunday in response to the results.
“Elon has increased his wealth by $235 billion during Trump’s second term, and was allowed to gut the federal agencies overseeing and investigating him,” she continued. “Big money in politics is a direct threat to democracy and the working class.”
According to the poll, 72% of Americans agree that there is too much money in politics, while only 5% disagree. There is broad partisan consensus on this issue, with 80% of 2024 Kamala Harris voters and 77% of 2024 Trump voters also agreeing.
At the same time, 61% think that billionaires have too much influence on US politics. There was a larger partisan gap on this issue, with 75% of Harris voters and 55% of Trump voters agreeing
A total of 67% of respondents think that there is too much special interest money specifically in elections, and 53% see it as a form of corruption that should be restricted. There is also bipartisan support for the idea that special interest money is corruption, with 61% of Harris voters and 56% of Trump voters backing this position.
There is slightly more concern about money in politics from Democratic voters, with 49% of 2024 Harris voters stating it could outright buy elections compared with 33% of Trump voters.
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A top Iranian official on Monday said the peace proposal rejected by President Donald Trump was a “reasonable and generous” path toward ending the war that the US and Israel launched in late February, plunging the Middle East and global energy markets into chaos.
Esmail Baghaei, the spokesperson for Iran’s Foreign Ministry, said during a press conference that “the only thing we have demanded is Iran’s legitimate rights,” accusing the US side of insisting on “unreasonable demands.”
Baghaei’s remarks came after Trump dismissed the Iranian proposal—a counter to the latest US offer—as “totally unacceptable” in a social media post.
“I don’t like it,” Trump wrote, without specifying what he found objectionable. The president’s reply sent oil prices surging.
“Is our proposal for safe passage through the Strait of Hormuz unreasonable?” Baghaei asked in response to the US president. “Is establishing peace and security across the entire region irresponsible?”
The details of the US offer and Iran’s counter have not been fully made public, though some of both sides’ demands have been divulged in media reports and vaguely outlined by government officials. Trump, who has repeatedly issued genocidal threats against Iran and called the country’s leaders “lunatics,” told Axios that he spoke with Israeli Prime Minister Benjamin Netanyahu about Iran’s response.
“It was a very nice call,” said Trump. “We have a good relationship.”
Baghaei, for his part, rejected the notion that Iran is the party behaving irrationally. “It is enough to look at Iran’s record,” he said. “Were we the ones who deployed troops? Are we the ones bullying countries in the Western Hemisphere? Were we the ones who committed assassinations twice during negotiations?”
Citing an “informed source,” Iran’s semi-official Tasnim News Agency reported Monday that “Iran’s text emphasizes the necessity of an immediate end to the war and guarantees against renewed aggression toward Iran, along with several other issues within the framework of a political understanding.”
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The Trump administration on Wednesday released an official counterterrorism strategy that puts “anti-fascist” organizations on par with terrorist organizations such as Islamic State and al-Qaeda.
In outlining its strategy, the document argues that the US faces three “major type” of terrorist threats: “Legacy Islamiast Terrorists,” such as al-Qaeda and ISIS; “Narcoterrorists” that sell illegal drugs; and “Violent Left-Wing Extremists, including Anarchists and Anti-Fascists.”
When it comes to the purported domestic left-wing threats, the document says the administration will “prioritize the rapid identification and neutralization of violent secular political groups whose ideology is anti-American, radically pro-transgender, and anarchist.”
“We will use all the tools constitutionally available to us to map them at home,” the document adds, “identify their membership, map their ties to international organizations like Antifa, and use law enforcement tools to cripple them operationally before they can maim or kill the innocent.”
The document makes no mention of the threat posed by members of right-wing groups such as the Oath Keepers and Proud Boys, many of whom received pardons from President Donald Trump in 2025 for their role in violently storming the US Capitol building on January 6, 2021.
A report published last year by the Center for Strategic and International Studies found that, while left-wing political violence has grown since Trump’s first election in 2016, it “remains much lower than historical levels of violence carried out by right-wing and jihadist attackers.”
Journalist Ken Klippenstein reported on Wednesday that the strategy “is the brainchild of White House counterterrorism czar Sebastian Gorka, an eccentric figure I have reported on, who last year hinted at terrorism charges being levied for political opponents of the administration.”
Digging into the details of the document, Klippenstein said it was essentially a strategy for prosecuting “pre-crime,” which he noted “aims to build cases against people for what they might do, most ominously based on speech or beliefs.”
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Observers are once again raising concerns about insider trading on Wednesday after a trader took a colossal crude oil short position just over an hour before a US-Iran peace deal was reported to be on the horizon, causing prices to fall.
The Kobeissi Letter, a financial newsletter, reported on X that at 3:40 am on Wednesday, “nearly 10,000 contracts worth of crude oil shorts were taken without any major news.”
This was equivalent to $920 million in notional value, which the letter described as “an unusually large trade” so early in the morning. But it would soon pay off.
At 4:50 am, just 70 minutes later, Axios published an exclusive scoop by Middle East reporter Barak Ravid that the White House believed the US and Iran were on the verge of agreeing to a one-page “memorandum of understanding” to end the war, which included more nuclear negotiations, one of the key sticking points for US President Donald Trump.
By 7:00 am, just over two hours after Axios dropped its report, oil prices had fallen by 12%, allowing the savvy investor to make $125 million in a matter of hours, which led to accusations that it was yet another example of “epic insider trading” by those in the know about Trump’s plans.
Prices have since rebounded by about 8% after Iran announced the creation of the new “Persian Gulf Strait Authority,” to mediate the passage of ships through the Strait of Hormuz on its terms.
The Trump administration has already been deluged with accusations that its members are using insider information to take advantage of financial markets and prediction market apps.
Last month, an active-duty US special forces soldier was indicted by the Department of Justice after he made about $400,000 betting on Polymarket that Venezuelan President Nicolás Maduro would be removed from power, a bet he allegedly placed using classified information about an operation he himself was involved with.
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A real estate investment tycoon on Tuesday said that calls to raise taxes on the wealthiest Americans were akin to “racial slurs.”
As reported by The New York Times, Vornado Realty Trust CEO Steven Roth took time during his company’s latest earnings call to decry calls from politicians such as New York City Mayor Zohran Mamdani to fund public programs by taxing the rich.
“I must say that I consider the phrase ‘tax the rich’... when spit out with anger and contempt by politicians both here and across the country, to be just as hateful as some disgusting racial slurs,” said Roth.
Roth took aim at Mamdani for celebrating a proposed pied-à-terre tax on luxury properties worth more than $5 million whose owners have other primary homes, and was particularly upset that the mayor filmed a video announcing the tax outside a $238 million penthouse owned by Ken Griffin, the CEO of the hedge fund Citadel. He called the announcement “dangerous” and an “ugly, unnecessary video stunt.”
The Vornado CEO went on to say that America’s wealthiest individuals deserve the nation’s gratitude, not their scorn.
“The rich, whom the politicians are targeting... are the epitome of the American dream,” he said. “They are at the top of the great American economic pyramid for a reason. They should be praised and thanked.”
Roth’s remarks drew criticism from Douglas Farrar, former director of the Office of Public Affairs at the Federal Trade Commission under President Joe Biden.
“A billionaire real estate CEO compared being asked to pay taxes to a racial slur, then said the top 1% should be ‘praised and thanked,’” Farrar wrote in a social media post. “There was a time when the wealthy had the good sense to be quiet about it. Now they demand gratitude on earnings calls.”
Activist and healthcare advocate Melanie D’Arrigo noted that Roth build developments in the city after intentionally allowing properties to sit in a state of blight for years, which “gutted Black and brown neighborhoods in exchange for billions in tax breaks.”
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An advocacy group tracking the impacts of the unprecedented Medicaid cuts that congressional Republicans and President Donald Trump enacted last year said Monday that at least 900 hospitals, nursing homes, and other healthcare facilities are now shutting down or at risk of closure—a disaster for low-income Americans who lack easy access to care.
Protect Our Care’s Hospital Crisis Watch project has identified healthcare centers that have closed or are at risk of closing, cutting services, and shutting down wards as they grapple with the impacts of the GOP’s 2025 budget law, which included over $1 trillion in total healthcare cuts over the next decade. More than $900 billion of the cuts will come from Medicaid, which pays hospitals and other providers for services delivered to low-income patients.
“Hospital Crisis Watch has now reached 900 pins, 900 communities where access to care is evaporating as Republicans’ healthcare cuts ripple across the country,” said Brad Woodhouse, president of Protect Our Care. “Providers are stretched thin, doing everything they can as resources disappear and the system buckles under the pressure of Republicans cutting more than $1 trillion from health care to fund tax breaks for billionaires and big corporations.”
“Families are driving further for care, parents are scrambling to find services for their kids, and seniors are being left without the support they need,” Woodhouse continued. “Care is getting harder to access, in too many places, disappearing entirely, and communities are left to deal with the consequences.”
The impacts of the Trump-GOP Medicaid cuts have been felt in both urban and rural areas, despite Republicans’ inclusion of a $50 billion Rural Health Transformation Fund that supporters touted as a way to bolster at-risk healthcare facilities. Critics of the fund have warned from the start that it would not be nearly enough to offset the devastation caused by massive Medicaid cuts. (The Trump-GOP law includes an estimated $137 billion in cuts to Medicaid in rural areas.)
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County commissioners in Box Elder County, Utah, were deluged with chants of “Shame! Shame! Shame!” from a crowd of hundreds on Monday night as they voted unanimously to move forward with a sprawling “hyperscale” artificial intelligence data center project that many residents fear will cause energy prices to soar and imperil water access.
The project, known by state officials as “Stratos,” was proposed by the celebrity venture capitalist Kevin O’Leary and has been rushed along by Utah’s Military Installation Development Authority, which recently approved a gigantic energy tax break for the program to help “lure” the billionaire “Shark Tank” investor.
The development, dubbed “Wonder Valley” after O’Leary’s “Mr. Wonderful” TV persona, would span more than 40,000 acres of northern Utah—more than two and a half times the size of Manhattan—and would consume more than twice the electricity currently used by the entire state if approved, according to Axios.
CBS 2 KUTV called it “the biggest thing in the region since the completion of the first transcontinental railroad.” And yet Utahns say they’ve been given little information about the plan and few opportunities to voice their concerns.
Residents were given short notice before Box Elder commissioners gathered at the county fairgrounds on Monday for a “special” meeting to vote on the project, but an estimated 500 still showed up to voice their displeasure.
They raised fears that they’d have to endure the same dramatic energy price spikes as other states with high concentrations of data centers. Residential utility costs have jumped 13-20% year over year in Virginia, Illinois, Ohio, and New Jersey, a trend attributed to the rollout of data centers in these states.
The developers of the Utah project have emphasized that it will be powered by an on-site natural gas plant, which they claim would limit the impact on utility bills.
However, that still leaves the massive environmental concern, especially since natural gas is almost entirely made of methane, one of the worst planet-heating pollutants.
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US Secretary of Agriculture Brooke Rollins on Saturday openly celebrated millions of people losing their food assistance, which experts say is a direct result of the Republicans’ 2025 budget law that slashed funding to the Supplemental Nutrition Assistance Program by $186 billion over a decade.
In a social media post pointing to preliminary data from her department, Rollins boasted that there were now “4.3 million off SNAP and counting!”
“Under President Trump, Americans are getting back to work!” Rollins added. “Healthy employment numbers mean less reliance on government programs. Leaving benefits for those who truly need them. America is back in business!”
In reality, the unemployment rate is currently higher than when President Donald Trump took office in February 2025 and there has been almost no growth in net employment since the president announced his “Liberation Day” tariffs just over a year ago.
The Associated Press on Monday published a fact check of Rollins’ claims about SNAP, finding that Republicans’ cuts to the program were far more likely responsible for the historic drops in enrollment than any purported improvement in the economy.
Caitlin Caspi, an associate professor at the University of Connecticut who studies food insecurity, told the AP that current job creation numbers are nowhere near strong enough to explain the massive number of Americans losing access to SNAP.
“We’re not seeing a linear kind of drop-off,” Caspi said. “We are not seeing, if you look at the unemployment rates, things that might be an indicator that a strong economy was driving this change. We don’t see, for example, a pattern of decline in unemployment that would match the pattern of decline in SNAP participation.”
Caspi’s analysis was echoed by the Center on Budget and Policy Priorities (CBPP), which last week published an analysis finding that “economic conditions haven’t been improving as the number of people receiving SNAP has plummeted in recent months, representing the sharpest decline in decades.”
Instead, CBPP pointed the finger squarely at the GOP’s budget law as the biggest culprit behind the decline.
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House Republicans on Wednesday passed a budget resolution that sets the stage for GOP lawmakers to draft and approve more funding for immigration enforcement without any support from Democrats, who condemned the proposal as another “blank check” for rogue agencies.
The resolution, which cleared the GOP-controlled Senate last week, gives Republicans the ability to allocate up to $140 billion total to Immigration and Customs Enforcement (ICE) and Customs and Border Protection (CBP), agencies that President Donald Trump has unleashed on American cities with deadly consequences. Republicans have said they plan to allocate roughly $70 billion total to the immigration agencies, which Democrats have refused to fund through the normal appropriations process without reforms.
The new GOP legislation will proceed through the budget reconciliation process, which is exempt from the Senate’s 60-vote filibuster, enabling Republicans to fund ICE and CBP without Democratic backing.
Rep. Brendan Boyle (D-Pa.), the top Democrat on the House Budget Committee, said in a statement that the GOP’s proposal “does nothing to protect healthcare, help families struggling with groceries, gas prices, and everyday expenses, or make our communities safer.”
“House and Senate Republicans just paved the way to hand ICE and CBP another $70 billion without any reforms or accountability,” said Boyle. “Republicans keep telling working families we cannot afford healthcare or relief from the cost-of-living crisis they continue to make worse, but they never seem to have a problem writing massive checks for these out-of-control agencies. I will keep fighting every step of the way to stop this reckless bill.”
The forthcoming reconciliation package marks the second time Republicans have used the filibuster-proof budget process to ram through their agenda. Last summer, Republicans passed a sprawling budget reconciliation measure that included unprecedented cuts to Medicaid and nutrition assistance as well as tax breaks for the wealthiest Americans.
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