Prevent Presidential Profiteering Act

This bill would create a federal tax equal to 100 percent of any damages a current or former President receives from a lawsuit that person filed against the United States or a federal agency. The tax would also apply to the President's spouse, certain relatives, and entities they control. It covers lawsuits where the filing, settlement, verdict, or judgment happened while that individual was serving as President. These amounts would be left out of regular taxable income, and the new tax could not be deducted from income tax. The tax would apply to amounts received after the bill becomes law.

Full text and official record on Congress.gov

Sponsors

• Mike Thompson Democrat sponsor
• 17 cosponsors