• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Editor's Pick

Todd Blanche moves closer to confirmation after rescinding $1.8B fund

by August 3, 2026
written by August 3, 2026

Acting Attorney General Todd Blanche moved closer to Senate confirmation Sunday after formally rescinding a controversial $1.8 billion “anti-weaponization fund” and narrowing tax protections included in President Donald Trump’s IRS settlement.

A spokeswoman for Sen. John Cornyn, R-Texas, confirmed an agreement had been reached after Cornyn and Sen. Thom Tillis, R-N.C., held up Blanche’s nomination. The agreement could clear the way for Cornyn to support Blanche at a Senate Judiciary Committee meeting Tuesday. Tillis had not publicly commented on the agreement as of Sunday night.

The committee is scheduled to vote on the nomination Tuesday, needing all Republicans on board to counter Democrats, who remain entirely opposed to Blanche’s confirmation. An earlier committee vote was postponed after Cornyn and Tillis said they needed a written commitment from the administration.

Blanche formally met the senators’ demands by terminating the fund and clarifying that tax-related protections in the settlement apply only retroactively and do not cover future tax filings.

TRUMP BLASTS ROGUE GOP SENATORS FOR BLOCKING BLANCHE NOMINATION, VOWS ANTI-WEAPONIZATION BILL FIGHT

The fund never became operational: no members were appointed, no money was transferred, no claims process was established, and no payments were made, according to the Justice Department.

“My team and I have met with committee members and Senators over the past several weeks and addressed any concerns or outstanding questions,” Blanche said in a post on X Sunday.

“We have enjoyed good faith discussions, and as a result issue the following order and update with regard to the May IRS settlement. The Department always welcomes and appreciates productive engagement with all members of Congress,” he added.

Blanche’s order formally rescinded the May 18 directive establishing the fund and clarified that tax-related protections in the settlement apply only retroactively, not to future filings.

Cornyn and Tillis had sought the commitment in writing amid concerns that the fund could be revived, particularly as Trump continued to publicly support the idea. Lawmakers had also raised concerns that people convicted in connection with the Jan. 6, 2021, Capitol riot could be eligible for payments.

“Sen. Cornyn has reached an agreement with the Department of Justice, which will be issuing a formal order permanently terminating the anti-weaponization fund and making clear in a binding written document that the scope of the audit settlement is limited to only the plaintiffs, including the President, and the IRS,” Natalie Yezbick, a Cornyn spokesperson, told Politico.

Tillis had not announced whether the agreement was enough to secure his support.

Tillis is expected to follow Cornyn in backing Blanche on Tuesday after saying on Saturday, before the agreement was reached, that Trump “clearly intends to resurrect the payout pot for punks either by inappropriately establishing another bogus fund or pushing Congress to vote for a bill that the majority of Republicans in the Senate would be against.”

TRUMP THREATENS TO YANK HIS OWN AG NOMINEE AS GOP REVOLT GROWS

“It’s unfortunate that Todd Blanche, who I consider qualified for the job, will not be confirmed because of this reversal. Hopefully, we can resolve this by Tuesday,” Tillis said at the time.

Blanche has been serving as acting attorney general since he took over for Pam Bondi in April.

Senate Republicans hope to advance Blanche’s nomination before the end of the week.

This post appeared first on https://www.foxnews.com

0 comment
0
FacebookTwitterPinterestEmail

previous post
Top Trump ally warns super PAC bankrolled by Dem billionaire is meddling in his GOP primary
next post
First showdown in race for Lindsey Graham’s Senate seat puts GOP hopefuls to the test

related articles

New California law expands DNA tools for missing...

August 3, 2026

Top Trump ally warns super PAC bankrolled by...

August 3, 2026

First showdown in race for Lindsey Graham’s Senate...

August 3, 2026

Trump v. Smithsonian: A timeline of how the...

August 3, 2026

Trump warns Iran fighting isn’t over as he...

August 1, 2026

Jack Smith’s Senate phone records probe turns to...

August 1, 2026

Socialist frontrunner in the hot seat after ‘Cancel...

August 1, 2026

Ex-‘Squad’ member fights for comeback as socialist wing...

August 1, 2026

FIRST ON FOX: DHS points to ‘common sense’...

August 1, 2026

Moreno unloads on Fauci after Senate hearing, calls...

July 31, 2026
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Soaring Western Digital stock faces some major risks: is a reversal coming?

    June 25, 2026
  • DOJ warns former red state is becoming the next California as governor embraces ICE limits

    June 19, 2026
  • The Onion’s new parody of Alex Jones’ Infowars starts with $100,000 to Sandy Hook families

    July 5, 2026
  • Xiaomi stock analysis: why “China’s Apple” is in a freefall

    June 23, 2026
  • Why is Adobe stock sliding today despite earnings beat?

    June 12, 2026

Popular Posts

  • 1

    CoreWeave stock jumps 10% as analysts see major backlog upside

    June 16, 2026
  • 2

    Intel, AMD stocks slide again in aftermath of Broadcom’s weak outlook

    June 5, 2026
  • 3

    Dow tumbles 680 points as chip rout sends Nasdaq to biggest drop since 2025

    June 5, 2026
  • 4

    Wedbush makes a strong case for buying the dip in Planet Labs stock

    June 5, 2026
  • 5

    Wedbush makes a strong case for buying the dip in Planet Labs stock

    June 5, 2026

Categories

  • Editor's Pick (378)
  • Investing (944)
  • Stock (47)

Latest Posts

  • Democrats’ civil war heads to Michigan where progressives face biggest test yet in high-stakes Senate showdown

    July 6, 2026
  • Republican and Democratic coalitions put to the test in unusual elections on Tuesday

    July 28, 2026
  • Wall Street futures mixed today: 5 things to know before markets open

    June 16, 2026

Recent Posts

  • Bill Clinton reveals how he feels about upcoming midterms after socialist victories

    June 29, 2026
  • PepsiCo beats revenue estimates but warns North America demand remains under pressure

    July 9, 2026
  • Micron stock extends decline despite Trump’s praise and bullish analyst views

    July 2, 2026

Editor’s Pick

  • Stoxx 600 hits record high: BofA raises year-end target to 630

    July 3, 2026
  • Delta Air Lines earnings: ignore the ‘noise’, stick with DAL – analyst says

    July 10, 2026
  • Democrats are ‘completely stained’ after backing Platner through multiple scandals, Republicans charge

    July 9, 2026
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock