Tax the Grift Act
Taxes on Settlements from Presidential Lawsuits Against the IRS
The Tax the Grift Act is currently in the early stages of the legislative process. It was recently sent to the House Committee on Ways and Means for review. The bill is actively moving forward, but no further meetings or votes have been scheduled yet.
Legislative Progress
This bill is a political move aimed at a specific person and is unlikely to get support from both parties or pass through a divided Congress.
Key Points
- This bill would create a new tax that takes 100 percent of any money a person receives from certain legal settlements.
- It specifically targets money from settlement funds created when a president sues the Internal Revenue Service.
- The bill aims to stop any president from using their position to get money through legal fights with the government tax agency.
- If this becomes law, any person who gets a payment from such a settlement would have to give the entire amount back to the government as a tax.
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
Referred to the House Committee on Ways and Means.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
Tax the Grift Act
Data Sources
Sponsor
Analysis generated by AI. Always verify with official sources.