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Treasury cancels Booz Allen contracts after employee leaked Trump tax records; stock falls
Treasury Secretary Scott Bessent on Monday said he had canceled all Treasury Department contracts with the consulting firm Booz Allen Hamilton, whose employee leaked the tax records of President Donald Trump, and the billionaires Jeff Bezos and Elon Musk, to media outlets.
Booz Allen Hamilton's stock price dropped by more than 10% on the heels of the Treasury Department's announcement.
The department said it currently has 31 separate contracts with Booz Allen Hamilton, totaling $4.8 million in annual spending and $21 million in total obligations.
"President Trump has entrusted his cabinet to root out waste, fraud, and abuse, and canceling these contracts is an essential step to increasing Americans' trust in government," Bessent said in a statement.
Treasury Department cancels contracts with consulting firm Booz Allen Hamilton after Trump tax return leak
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Treasury Secretary Scott Bessent said the Treasury Department cut contracts with Booz Allen Hamilton, whose employee leaked President Donald Trump's tax returns years ago. By early afternoon, the move sent the consulting firm's stock down more than 11%.
The department has 31 different contracts with the firm, worth $4.8 million in yearly spending and $21 million in obligations, it said in a press release. The press release noted that Charles Edward Littlejohn, a former employee at the consulting firm, leaked the tax returns of thousands of taxpayers. The leak affected roughly 406,000 people, according to the IRS.
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