SLUSH FUND Act of 2026

This bill would create a federal tax equal to 100 percent of any payment a person receives from a fund, trust, or account whose money comes from a lawsuit filed against the United States by a current or former President, a member of that President's family, or an entity they control. These payments would not count as regular taxable income, and the tax could not be deducted. Anyone who willfully fails to pay or tries to evade the tax would owe an added penalty of 50 percent of the tax. Fund trustees or administrators who make these payments would have to report them to the IRS and to recipients, the IRS would have to make those reports public within one month, and failing to file a report would carry a $10,000 penalty. The tax would apply to amounts received on or after May 20, 2026.

Full text and official record on Congress.gov

Sponsors

• Ron Wyden Democrat sponsor
• 2 cosponsors