New 100% tax on income from special government actions for top officials and families.
This bill would create a new 100% tax on certain money earned by top federal officials, their spouses, and their children. This tax would apply to income from special government actions, like contracts or licenses. These actions must have been granted while the official was in office and given a major financial boost. It would take effect for tax years ending after January 20, 2025.
Today, there is no specific 100% tax on income that high-level federal officials or their families earn from favorable government actions. If this bill becomes law, a new 100% tax would be added to any income that comes from specific, discretionary federal actions (like contracts or licenses) that provide a substantial economic benefit to these officials or their family-owned companies while the official was in office. This would apply to taxable years ending after January 20, 2025.
S 5448 · 119th Congress · AI Summary by gemini-2.5-flash · 10/10
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