Anti-Corruption Tax (ACT) Act

This bill would add a new federal tax equal to 100 percent of certain income received by the President, Vice President, Cabinet-level officials, their spouses, and their children. The tax would apply to taxable income that comes from a discretionary federal action taken while the official is in office, if the action is directed to the official, family member, or a company they beneficially own and is expected to give a substantial economic benefit. Covered actions include federal contracts, leases of public lands or energy resources, bank or financial charters, licenses, permits, grants, loans, regulatory waivers, and merger approvals. The tax would be in addition to other income taxes and would apply to taxable years ending after January 20, 2025.

Full text and official record on Congress.gov

Sponsors

• Richard Blumenthal Democrat sponsor
• 0 cosponsors