Senators Adam Schiff of California, Mark Kelly of Arizona, and Elissa Slotkin of Michigan introduced the “Drain the Fund Act,” which they said would block taxpayer dollars from being funneled to Trump and his allies, including individuals convicted in connection with the January 6 riot, public figures who spread election misinformation, and the leader of a violent hate group.
The bill would also ban settlements stemming from suits brought by the president or the vice president, and be retroactive to January 20, 2025. That would functionally undo the recent settlement for Trump’s failing $10 billion lawsuit against the Internal Revenue Services that produced the fund, and blocked the president from future audits.
But the bill is only part of the plan. Senate Minority Leader Chuck Schumer said Monday that Democrats would introduce an amendment to their $72 billion budget reconciliation bill in order to shut down the fund. “If they try to bury the issue, we will force them to the Senate floor. If they try to sneak behind appropriations, we will fight them there, too. There will be no escape hatch. No fake guardrails or backroom promises to hide behind,” Schumer said.
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