President Donald Trump and his two oldest sons dropped their $10 billion lawsuit against the Internal Revenue Service.

The new fund could pay claims to the likes of Jan. 6 rioters and other purported victims of "lawfare" by previous administrations.

Mr. Trump had accused the Treasury Department and IRS of unlawfully allowing a government contractor to leak his tax returns and those of his sons and company.

President Donald Trump dropped his $10 billion lawsuit over the leak of his tax returns against the Internal Revenue Service, according to a court filing submitted Monday in Florida. The Department of Justice (DOJ) then announced an “Anti-Weaponization Fund” as part of the deal to resolve the lawsuit.

The move comes after Trump, his sons and family business sued the IRS for $10 billion for failing to properly oversee a contractor who leaked the tax returns of the president.

The Trump administration has announced the creation a $1.7 billion fund to compensate allies of the Republican president who believe they were mistreated by the Biden-era Justice Department

President Donald Trump has moved to withdraw his $10 billion lawsuit against the Internal Revenue Service over the leak of his tax returns after reports that a resolution of the case was close at hand

The $1.7bn settlement fund will be created by the Trump administration for individuals who allege they were subjected to unfair investigations.