Newsom vows 100 percent tax on DOJ 'Anti-Weaponization Fund' payouts

SACRAMENTO, California — Gavin Newsom vowed Wednesday to tax any payouts that California residents receive from a $1.776 billion “anti-weaponization” fund that Donald Trump secured in a settlement with his own Justice Department, as Democratic lawmakers in states across the country ramp up efforts to counter the president on the measure.

“Anyone from California that receives any of those funds, we want to tax 100 percent of those proceeds,” the California governor told reporters during a press conference in his office, calling the settlement a “slush fund.”

Newsom’s pledge mirrors legislation unveiled earlier this week in New York by Democrat Alex Bores, a state assemblymember and House candidate, that would assess a 100 percent tax against payouts from the fund. Trump announced the fund last week as part of his $10 billion settlement with the DOJ in his lawsuit against the IRS, and Democratic efforts to undercut any payouts are picking up across the country.

Democratic state lawmakers in New York are pushing for a vote by next week to fully tax payouts from the fund. Queens state Sen. Mike Gianaris in an interview said his measure was in the process of being introduced in the Democratic-dominated Legislature.

https://www.yahoo.com/news/politics/articles/newsom-vows-100-percent-tax-on-doj-anti-weaponization-fund-payouts-232807542.html