CALIFORNIA (FOX26) \u2014 California Gov. Gavin Newsom says the state is preparing to tax payments that could come from a controversial $1.776 billion fund planned by President Donald Trump.<\/p>\n
\u201cAnyone from California that receives any of those funds \u2014 we want to tax 100% of those proceeds,\u201d Newsom said. \u201cThat\u2019s an action the State of California can take. It\u2019s an action we look forward to taking.\u201d<\/p>\n
The U.S. Department of Justice announced it would create the fund in exchange for the president dropping a $10 billion lawsuit against the IRS for leaking his tax returns.<\/p>\n
The Trump administration calls it an \u201canti-weaponization\u201d fund. <\/p>\n
Supporters say the money is meant to compensate people who say they were wrongly targeted by federal agencies during the January 6 protests at the Capitol.<\/p>\n
On Thursday, Secretary of the Treasury Scott Bessent was asked about Newsom’s proposal.<\/p>\n
“Governor Gavin Newsom has floated this idea of a 100% state tax on Californians who receive money from President Trump’s anti-weaponization fund,” the reporter said. “Your response?”<\/p>\n
Comment with Bubbles<\/p>\n
BE THE FIRST TO COMMENT<\/p>\n
“There’s no cure for stupid,” Bessent said.<\/p>\n","protected":false},"excerpt":{"rendered":"CALIFORNIA (FOX26) \u2014 California Gov. Gavin Newsom says the state is preparing to tax payments that could come…\n","protected":false},"author":2,"featured_media":336394,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[7,9,8],"class_list":["post-336393","post","type-post","status-publish","format-standard","has-post-thumbnail","category-california","tag-california","tag-california-headlines","tag-california-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/336393","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=336393"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/336393\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/336394"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=336393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=336393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=336393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}