Tax the Grift Act
To amend the Internal Revenue Code of 1986 to impose a tax on payments received from any settlement fund established as a result of a civil action filed by the President of the United States against the Internal Revenue Service.
This bill, known as the "Tax the Grift Act," aims to change tax laws by adding a tax on any payments from settlement funds that result from a civil action filed by the President of the United States against the Internal Revenue Service (IRS). This tax would apply to any money received from these specific settlements.
If passed, this bill would primarily affect the President and potentially those involved in the settlement process with the IRS. The financial implications would depend on the specifics of the settlements and the amounts involved. This tax would be a new requirement for anyone receiving funds from these particular settlements.
As of May 29, 2026, the bill has been introduced in the House and referred to the House Committee on Ways and Means. This means it is in the early stages of the legislative process, and further actions such as committee review and potential votes are yet to come. Keep an eye on updates as the bill progresses.
