Federal RuleAug 21
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DOL Rewrites Disability Rules for 'Merit-Based Opportunity' Push
RuleLabor DepartmentFederal Contract Compliance Programs OfficeSignificant Wallet
119-hr-7381119th CongressWALLET
Prevent Presidential Profiteering Act
Sponsored By: Representative Thompson, Mike [D-CA-4]
Introduced
Summary
A new 100% tax on civil damages paid to Presidents and their close associates. This bill would create a dedicated tax rule that targets damages those covered people receive from civil suits they bring against the United States.
Show full summary
- Covered people: Individuals who have served as President, their spouses and family under section 152(d)(2), and persons they control would be subject to the tax equal to 100% of damages they receive from civil actions filed against the United States.
- Tax mechanics: The bill would add Chapter 50B to Subtitle D to impose the tax on the "qualified civil action amount." It also states those amounts would not be included in gross income under chapter 1 and it amends section 275(a)(6) to disallow related deductions.
- Timing: The changes would apply to amounts received after the date of enactment.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 1 costs, 0 mixed.
100% tax on presidents' civil damages
If enacted, this bill would tax at 100 percent any civil damages a covered person receives from lawsuits they file against the United States. Covered people would include anyone who has served as President, that President's spouse and close relatives listed in section 152(d)(2)(A)-(G), and persons they control. A "qualified civil action amount" would be the total damages (settlement, verdict, judgment, or other payment) received in a taxable year from such a suit. The rule would only apply to cases filed, settled, or decided during the period the President was in office (from when they began serving until they ceased to serve). For tax handling, the bill would treat this tax as a subtitle A tax, exclude those damages from gross income for chapter 1 purposes, and disallow related deductions under section 275(a)(6). The rule would apply to amounts received after the date of enactment.
Sponsors & CoSponsors
Sponsor
Thompson, Mike [D-CA-4]
CA • D
Cosponsors
Rep. Doggett, Lloyd [D-TX-37]
TX • D
Sponsored 2/4/2026
Rep. Larson, John B. [D-CT-1]
CT • D
Sponsored 2/4/2026
Rep. Davis, Danny K. [D-IL-7]
IL • D
Sponsored 2/4/2026
Rep. Chu, Judy [D-CA-28]
CA • D
Sponsored 2/4/2026
Rep. DelBene, Suzan K. [D-WA-1]
WA • D
Sponsored 2/4/2026
Rep. Moore, Gwen [D-WI-4]
WI • D
Sponsored 2/4/2026
Rep. Boyle, Brendan F. [D-PA-2]
PA • D
Sponsored 2/4/2026
Rep. Panetta, Jimmy [D-CA-19]
CA • D
Sponsored 2/4/2026
Rep. Gomez, Jimmy [D-CA-34]
CA • D
Sponsored 2/4/2026
Rep. Horsford, Steven [D-NV-4]
NV • D
Sponsored 2/4/2026
Rep. Sánchez, Linda T. [D-CA-38]
CA • D
Sponsored 2/4/2026
Rep. Evans, Dwight [D-PA-3]
PA • D
Sponsored 2/4/2026
Rep. Schneider, Bradley Scott [D-IL-10]
IL • D
Sponsored 2/4/2026
Rep. Suozzi, Thomas R. [D-NY-3]
NY • D
Sponsored 2/5/2026
Rep. Dexter, Maxine [D-OR-3]
OR • D
Sponsored 3/19/2026
Del. Norton, Eleanor Holmes [D-DC-At Large]
DC • D
Sponsored 5/14/2026
Rep. Salinas, Andrea [D-OR-6]
OR • D
Sponsored 5/19/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov