Sen. King Introduces Stop CHEATERS Act to Boost IRS Audits of Wealthy Taxpayers
The Stop CHEATERS Act is currently in the early stages of the legislative process. It was recently sent to the Senate Committee on Finance for review. There are no upcoming votes scheduled at this time.
While the bill has support from top Democratic leaders, it lacks any Republican support and will likely be blocked in the Senate.
Scores run from -100 (strongly harmful) to +100 (strongly beneficial) for each group, combining impact, certainty, scope, and duration ratings of 1-5. How impact scoring works
While the bill explicitly targets high-income individuals and large corporations for increased audits, small business owners with complex returns could see some spillover effects from enhanced IRS enforcement capabilities. On the positive side, improved taxpayer services and pre-filing assistance could make tax compliance easier and cheaper for small businesses.
Read twice and referred to the Committee on Finance.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
The Stop CHEATERS Act, introduced April 15, 2026, allocates $45.6 billion for enforcement specifically to audit wealthy taxpayers and $25.4 billion for technology operations. The bill is projected to raise nearly $1 trillion in revenue by closing the tax gap among high earners.
Treasury Secretary Scott Bessent defended proposed IRS budget cuts during a Senate hearing, while Democrats pointed to the newly introduced Stop CHEATERS Act as a vital tool to ensure high-income earners and corporations pay their fair share of taxes.
No votes or related bills recorded for this bill yet.
Document Type
Congressional Bill
Official Title
Stop CHEATERS Act
Analysis generated by AI. Always verify with official sources.