H.R.7381

Prevent Presidential Profiteering Act imposes a 100% tax on damages received by the President and related family members from civil actions against.

The Prevent Presidential Profiteering Act amends the Internal Revenue Code to impose a 100% tax on damages received by the President of the United States and their family members from civil actions filed against the United States. This tax applies to any damages received during the President's term and any taxable year thereafter. The bill defines "covered person" to include the President, their spouse, and any person controlled by them. The tax applies to the aggregate amount of damages received, whether by settlement, verdict, or judgment.