Buzz News Recap

A new legal fight is underway over a $1.776 billion fund created through a settlement involving Trump's lawsuit against the IRS. The fund is described as compensation for people who claim they were targeted by politically motivated investigations. But critics say it could become a taxpayer-funded payout system for Trump allies — including January 6 rioters who were convicted or later pardoned.

Capitol Police officers Harry Dunn and Daniel Hodges, along with other plaintiffs, have sued to block the fund, arguing it is unconstitutional and could reward people involved in political violence. The fund does not appear to explicitly say 'pay rioters' but officials have not ruled out applications from January 6 defendants, which is why the lawsuits are drawing so much attention.

A controversial Justice Department agreement now appears to bar the IRS from auditing Trump, his family, and Trump-related businesses for past tax filings. The order applies to tax returns filed before May 18, 2026, and also blocks related matters that could have been pursued earlier.

One major issue is Trump's Chicago tower. A long-running IRS audit had examined whether Trump effectively claimed the same large tax write-off twice on Trump International Hotel and Tower in Chicago. Previously reported investigations found that closing that audit could have cost Trump more than $100 million. The new agreement may now shut down that audit, raising serious concerns that Trump has received special protection from normal tax enforcement.

The war with Iran continues to disrupt global oil supplies, especially around the Strait of Hormuz, one of the world's most important oil shipping routes. Gas prices have surged across the U.S., with the national average reported around $4.48 to $4.55 per gallon heading into Memorial Day weekend.