Stop Presidential Embezzlement Act

Ron Wyden

Democrat · OR · Senator

Source: Congress.gov · FEC

• Ben Ray Luján (D-NM)Original· 2026-03-17
• Charles E. Schumer (D-NY)Original· 2026-03-17
• Peter Welch (D-VT)Original· 2026-03-17
• Sheldon Whitehouse (D-RI)Original· 2026-03-17

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 360.

2026-03-18

Source: Congress.gov

This bill would require presidents and vice presidents to place their business assets into a blind trust while in office and for a period after leaving office, preventing them from personally profiting from their businesses during their presidency. The measure aims to reduce conflicts of interest by ensuring that presidents cannot make decisions that benefit their own financial holdings. It would apply to federal income taxes and financial disclosures related to presidential business interests.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4125 Placed on Calendar Senate (PCS)] <DOC> Calendar No. 360 119th CONGRESS 2d Session S. 4125 To amend the Internal Revenue Code of 1986 to impose a tax on damages received by certain officers of the United States on account of any civil action filed against the United States, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES March 17, 2026 Mr. Wyden (for himself, Mr. Schumer, Mr. Lujan, Mr. Welch, and Mr. Whitehouse) introduced the following bill; which was read the first time March 18, 2026 Read the second time and placed on the calendar _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to impose a tax on damages received by certain officers of the United States on account of any civil action filed against the United States, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Stop Presidential Embezzlement Act''. SEC. 2. IMPOSITION OF TAX ON DAMAGES RECEIVED BY THE PRESIDENT OF THE UNITED STATES ON ACCOUNT OF CIVIL ACTION FILED AGAINST THE UNITED STATES. (a) In General.--Subtitle D of the Internal Revenue Code of 1986 is amended by adding at the end the following new chapter: ``CHAPTER 50B--CERTAIN CIVIL DAMAGES RECEIVED BY CERTAIN OFFICERS OF THE UNITED STATES ``Sec. 5000E. Imposition of tax on damages received on account of civil action filed against the United States. ``SEC. 5000E. IMPOSITION OF TAX ON DAMAGES RECEIVED ON ACCOUNT OF CIVIL ACTION FILED AGAINST THE UNITED STATES. ``(a) In General.--There is hereby imposed on each covered person for any taxable year a tax equal to 100 percent of the qualified civil action amount received by such person during such taxable year. ``(b) Covered Person.--For purposes of this section-- ``(1) In general.--The term `covered person' means-- ``(A) any individual who has served in a position described in paragraph (2), and ``(B) any person related (within the meaning of section 267(b)) to a person described in subparagraph (A). ``(2) Position described.--The positions described in this paragraph are the following: ``(A) President of the United States. ``(B) Vice President of the United States. ``(C) Any position at level I of the Executive Schedule under section 5312 of title 5, United States Code. ``(D) Member of Congress (including any Delegate and Resident Commissioner). ``(c) Qualified Civil Action Amount.--For purposes of this section-- ``(1) In general.--The term `qualified civil action amount' means, with respect to any covered person during any taxable year, the aggregate amount of damages received by such person during such taxable year (whether by settlement, verdict, judgment, or otherwise) on account of any civil action-- ``(A) filed by such person against the United States (or any agency or instrumentality thereof), and ``(B) with respect to which the filing or settlement of, or issuance of a verdict or judgment for, occurred during the applicable period. ``(2) Applicable period.--The term `applicable period' means, with respect to any covered person, the period of time-- ``(A) beginning with the date on which the individual described in subsection (b)(1)(A) began serving in a position described in subsection (b)(2)(A), and ``(B) ending with the date on which is one year after the date on which such individual last served in any position described in subsection (b)(2)(A). ``(d) Special Rules.-- ``(1) Administrative provisions.--For purposes of subtitle F, any tax imposed by this section shall be treated as a tax imposed by subtitle A. ``(2) Exclusion from gross…

income.--For purposes of chapter 1, the gross income of any covered person for any taxable year shall not include any qualified civil action amount received by such person during such taxable year.''. (b) No Deduction From Income Tax.--Section 275(a)(6) of the Internal Revenue Code of 1986 is amended by inserting ``50B,'' after ``50A,''. (c) Clerical Amendment.--The table of chapters for subtitle D of the Internal Revenue Code of 1986 is amended by inserting after the item relating to chapter 50A the following new item: ``Chapter 50B--Certain Civil Damages Received by Certain Officers of the United States''. (d) Effective Date.--The amendments made by this section shall apply with respect to amounts received after the date of the enactment of this Act. Calendar No. 360 119th CONGRESS 2d Session S. 4125 _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to impose a tax on damages received by certain officers of the United States on account of any civil action filed against the United States, and for other purposes. _______________________________________________________________________ March 18, 2026 Read the second time and placed on the calendar

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