NO PROFIT Act

Key Points

• This bill would create a 100 percent tax on any money a person makes from selling stocks or other investments while they are serving as the head of the country. The goal is to prevent the leader from making policy decisions that could help their own bank account.
• To avoid this tax, the leader would have to put their investments into a blind trust. This is a special account managed by an independent person where the owner does not know what is being bought or sold. If they keep control of their own stocks, any profit they make would go to the government.
• The bill uses a rule that treats investments as if they were sold at the end of every year. The leader would have to pay the 100 percent tax on any increase in value that year, even if they did not actually sell the stocks. This ensures they cannot wait until they leave office to take the profits.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.