WATCH: Schiff grills Blanche on Trump tax settlement

Sen. Adam Schiff, D-Calif., sparred with Acting Attorney General Todd Blanche on Wednesday over the  Justice Department’s settlement to end President Donald Trump's $10 billion lawsuit against the Internal Revenue Service. The agreement to end the lawsuit over the leaking of the president's tax returns includes a document providing Trump immunity from tax audits. Schiff asked Blanche whether the settlement would prevent any audit “with respect to the billions in crypto money he made in his first year as president?” A federal filing from June showed Trump made more than $1 billion from his family's crypto businesses in 2025. “It's not forward-looking,” Blanche said. “So to the extent there are taxes filed by the president or his sons or the Trump Organization after the date of that agreement, there's no protection.” Schiff said that in making the decision to settle the case, Blanche “basically decided that you were going to be the lawyer for the president and the lawyer for the IRS and the Justice Department.” Schiff said that Trump filed the lawsuit after the statute of limitations and that the Justice Department chose to not raise that as a possible defense against Trump. A federal judge on Monday ruled that the lawsuit was filed for an "improper purpose,” characterized it as self-dealing and recommended disciplinary action against the attorneys. Watch PBS News for daily, breaking and live news, plus special coverage. We are home to PBS News Hour, ranked the most credible and objective TV news show. Newsletters: https://www.pbs.org/newshour/subscribe PBS News podcasts: https://www.pbs.org/newshour/podcasts Stream your PBS favorites with the PBS app: https://to.pbs.org/2Jb8twG Find more from PBS News at https://www.pbs.org/newshour Subscribe to our YouTube channel: https://bit.ly/2HfsCD6 Follow us: TikTok:   / pbsnews   X:   / newshour   Instagram:   / newshour   Facebook: http://www.pbs.org/newshour