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Top Senate Democrats are demanding answers from several companies tied to President Trump and his family over whether the Department of Justice’s (DOJ) settlement with the IRS shields these organizations from IRS investigations or prosecutions.
The DOJ struck a deal with the IRS in May to resolve a lawsuit brought by the president, which permanently barred the federal tax agency from “prosecuting or pursuing, any and all claims” tied to tax returns that were filed before the settlement took effect.
Acting Attorney General Todd Blanche added that this settlement applies to “parties including trusts, parent, sister, or related companies, affiliates and subsidiaries.”
Senate Minority Leader Chuck Schumer (D-N.Y.), along with Democratic Sens. Elizabeth Warren (Mass.) and Ron Wyden (Ore.), expressed concern about the breadth of the deal in letters to 11 companies tied to the Trump family on Monday.
“There are significant questions about the validity of this agreement, but on its face it could give not only the President and his family a broad and valuable get-out-of-jail-free card for any financial crimes or misconduct: it may also protect a more expansive group of entities — including your company — solely because of its ties to the President or his family,” the lawmakers wrote.
Companies owned by members of the Trump family — such as the Trump Organization, Kaz Resources, Powerus, Tag Air and Trump Media and Technology Group — were among the companies the senators contacted with this inquiry.
In their letter to Trump Media and Technology Group, which operates Truth Social, the senators cited the president’s position as the company’s majority owner.
“The public deserves transparency about the scope of this get-[out]-of-jail-free card for Trump-aligned businesses, and about whether you intend to rely on this settlement as a free pass for any possible violations of the law,” they wrote.
Prediction market firms Kalshi and Polymarket, where Donald Trump Jr. serves as a board member or adviser, were also included in this letter rollout.
“Given that Donald Trump Jr. is a ‘strategic advisor’ to Kalshi, your company could be sufficiently ‘related or affiliated’ to the plaintiffs to receive broad immunity from audits, civil penalties, and federal prosecution for any financial crimes prosecutable by Treasury or IRS under the settlement agreement,” the lawmakers wrote in their letter to Kalshi’s chief executive, Tarek Mansour.
The senators asked each company to submit their responses to questions related to the DOJ deal by July 20.
The Hill has reached out to the DOJ for comment.
Add as preferred source on Google Tags Chuck Schumer Donald Trump Jr. Elizabeth Warren Ron Wyden Todd BlancheCopyright 2026 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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