The Trump administration is pursuing a comprehensive restructuring of the Internal Revenue Service (IRS) aimed at investigating wealthy Democratic donors suspected of financing political activities, according to recent reports.
Interim IRS Commissioner Scott Bessent has tasked advisor Gary Shapley with compiling a list of individuals who may face criminal inquiries.
Billionaire Democratic donor George Soros has been identified as a potential target of these investigations.
The effort has gained support from congressional Republicans.
Sen. Ted Cruz (R-TX) recently introduced legislation designed to prosecute funders of recent anti-Trump demonstrations under the Racketeer Influenced and Corrupt Organizations Act.
Cruz discussed his proposal during an appearance on Sean Hannity’s program Wednesday.
“Follow the money. Cut off the money,” Cruz stated, per the Daily Mail.
“You look at this No Kings rally – there’s considerable evidence that George Soros and his network is behind funding these rallies which may well turn into riots.”
The Texas senator elaborated on his legislative initiative, saying he has “introduced legislation that would allow DOJ to use RICO to prosecute the money that is funding these No Kings Protests.”
George Soros and his son Alex have frequently been subjects of Republican criticism due to their substantial financial contributions to Democratic causes.
Soros remains the only individual publicly confirmed to be on Shapley’s list.
The Open Society Foundation, established by Soros, operates as the world’s largest financial supporter of progressive initiatives.
The Daily Mail highlighted that his Fund for Policy Reform, primarily managed by his son Alex, contributed $60 million to Democratic candidates and causes in 2024, making it the 12th-largest donor overall and the second-largest among exclusively liberal contributors.
President Trump has previously directed Attorney General Pam Bondi to explore RICO charges against Soros and protesters who demonstrated against him at a Washington DC restaurant in September.
CNN reported that Trump said of the protesters: “They should be put in jail.”
The RICO statute, originally enacted to combat organized crime, includes provisions related to rioting.
This broad scope provides the administration with legal grounds to pursue demonstrators, including participants in the recent “No Kings” marches.
Trump has instructed Bessent to identify financial backers allegedly inciting political violence for potential investigation.
During a recent cabinet meeting, the president commented on Bessent’s assignment: “Scott will do that. That’s easy for Scott.”
The president has previously advocated for charging 95-year-old George Soros and his son Alex under RICO statutes.
Trump has also criticized other wealthy liberal donors, including former Democratic presidential candidates Tom Steyer and Michael Bloomberg.
When contacted by the Wall Street Journal for comment, Shapley declined to address questions about potential donor targeting.
“I’m grateful to continue in my role in reforming the IRS,” Shapley said.
A Treasury Department spokesperson added: “The team’s focus remains collections, privacy, and customer service.”
The Open Society Foundation has rejected allegations of wrongdoing and condemned violence. The organization has not provided detailed responses to the specific accusations being leveled by administration officials.
In August, Trump removed IRS Commissioner Billy Long after only two months in the position, replacing him temporarily with Treasury Secretary Bessent.
Long had assumed the role with limited tax expertise and a background of criticizing the agency he was appointed to lead.
