# 119-s-4616: SLUSH FUND Act of 2026

119-s-4616, SLUSH FUND Act of 2026, is a 119th Congress bill sponsored by Sen. Wyden, Ron [D-OR] (D-OR); status introduced; PRIA reads it as touching household money (as of 2026-06-07).

- Canonical: https://policyrisk.com/legislation/119-s-4616
- As of: 2026-06-07
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-4616
- Congress: 119
- Title: SLUSH FUND Act of 2026
- Status: introduced
- Introduced: 2026-05-21
- Sponsor: Sen. Wyden, Ron [D-OR] (D-OR)
- Cosponsors: 2
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-06-07

## Summary

**100 percent tax on settlement payments tied to suits by Presidents and their families.** This bill would create a new tax chapter that treats any amount received by a President, a family member, or an entity they control from a civil action against the United States as fully taxable and adds penalties and reporting duties for payers. - People who "have served as President," their spouses, close relatives defined by tax law, and entities they control would face a 100 percent tax on any payment from settlement funds linked to civil actions they filed against the federal government. Those payments would be excluded from gross income and taxed under the new rule. - The bill disallows deductions for these payments and creates a penalty equal to 50 percent of the tax for willful failure to pay or willful attempts to evade the tax. - Trustees, administrators, or other fiduciaries who make these payments must file returns showing amounts and payee identities, give written statements to payees, and publicly disclose the returns within one month. A $10,000 penalty can apply for each failure to file. The rules apply to amounts paid on or after May 20, 2026 and to taxable years ending on or after that date.

## Cosponsors (2)

- Sen. Schumer, Charles E. [D-NY] (D-NY), 2026-05-21T00:00:00.000Z
- Sen. Hickenlooper, John W. [D-CO] (D-CO), 2026-06-01T00:00:00.000Z

## Provisions PRIA read

- 100% tax on presidential settlements: cost, high. This bill would impose a tax equal to 100% of any "specified settlement fund payment" you receive on or after May 20, 2026. A specified settlement fund payment comes from a fund whose assets come from the outcome of a civil action filed by a "specified person," including anyone who has served as Pr…
- Public reporting for settlement payments: cost, low. The bill would require any trustee, administrator, or other fiduciary who makes a specified settlement fund payment on or after May 20, 2026 to file an IRS return showing each recipient's name, address, and the aggregate amount paid for the year. Payers would have to give each recipient a written s…

## Related bills

- 119-s-891: Bipartisan Health Care Act
- 119-s-5022: Cannabis Administration and Opportunity Act
- 119-s-2763: Keep Billionaires Out of Social Security Act
- 119-s-3869: Healthy Families Act
- 119-s-51: Washington, D.C. Admission Act
- 119-s-5108: Right to IVF Act of 2026

## Sources
- [119-s-4616 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/4616)

## Related
- [119-s-891: Bipartisan Health Care Act](https://policyrisk.com/legislation/119-s-891)
- [119-s-5022: Cannabis Administration and Opportunity Act](https://policyrisk.com/legislation/119-s-5022)
- [119-s-2763: Keep Billionaires Out of Social Security Act](https://policyrisk.com/legislation/119-s-2763)
- [119-s-3869: Healthy Families Act](https://policyrisk.com/legislation/119-s-3869)
- [119-s-51: Washington, D.C. Admission Act](https://policyrisk.com/legislation/119-s-51)
- [119-s-5108: Right to IVF Act of 2026](https://policyrisk.com/legislation/119-s-5108)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-4616 (as of 2026-06-07).