Sen. Wyden Introduces SLUSH FUND Act to Tax Legal Settlements Paid to Former Presidents
The SLUSH FUND Act of 2026 is currently in the early stages of the legislative process. It was recently introduced in the Senate and sent to the Committee on Finance for review. No further actions are scheduled at this time, and the bill is waiting for the committee to decide on its next steps.
This is a highly partisan bill introduced by Democratic leadership that specifically targets former presidents. It is unlikely to get the Republican support needed to pass the Senate.
Govbase has not yet run an impact analysis on this legislation.
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.
Rep. Mike Thompson introduced the SLUSH FUND Act of 2026, which would impose a 100% excise tax on any settlement payment received from a fund derived from a civil suit initiated by a President against the United States, plus a 50% penalty for willful attempts to avoid the tax.
House Democrats have announced the SLUSH FUND Act, which would tax the president's $1.8 billion settlement fund at 100 percent. The legislation is designed to return every dollar of the 'ridiculously corrupt' payout back to the federal government.
Following the introduction of the federal SLUSH FUND Act by Senators Wyden and Schumer, several states are considering similar 100% taxes on residents who receive payouts from the controversial $1.8 billion settlement fund established by the Trump administration.
No votes recorded for this bill yet.
Document Type
Congressional Bill
Official Title
SLUSH FUND Act of 2026
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