Referred to the House Committee on Ways and Means.
Taxation
Why This Matters
This bill aims to tax any damages a President receives from lawsuits against the United States, ensuring that these amounts are not counted as income. It seeks to prevent any potential financial gain from such legal actions.
If you are a President, any money you receive from lawsuits against the government will be fully taxed.
Who this affects
current Presidents · former Presidents · immediate family members
What changes is this bill making?
1This bill imposes a 100% tax on damages received by the President from civil actions against the United States.
2It applies to any former or current President and their family members.
3The tax covers damages received through settlements, verdicts, or judgments.
4The bill excludes these damages from the President's gross income for tax purposes.
5It takes effect for amounts received after the bill is enacted.
