Former Presidents and their families would pay a 100% tax on certain lawsuit winnings against the U.S.
This bill, called the "Prevent Presidential Profiteering Act," would create a new 100% tax. This tax would apply to money received by former Presidents, their families, or related businesses from lawsuits they file against the U.S. government while the President is in office.
Currently, damages received from civil actions against the U.S. government by a President, their family, or controlled entities are generally subject to existing tax laws, which may include being taxable as income depending on the nature of the damages, or potentially being tax-exempt. If this bill becomes law, any damages received by a current or former President, their family, or controlled entities from a civil action they filed against the United States (or its agencies) would be subject to a 100% tax, provided the lawsuit's filing, settlement, or judgment occurred during the President's term. This specific amount would then be excluded from their gross income for other tax purposes.
HR 7381 · 119th Congress · AI Summary by gemini-2.5-flash · 6/10
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