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S. 4616119th CongressIn committeeLatest action May 21, 2026Decoded by AI · checked against the record
The plain-language version leads. The official text is always the reference.
S 4616 would impose a 100% tax on any settlement money paid out from lawsuits a president or family filed against the federal government.
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S 4616 would create a 100 percent tax on money received from certain legal settlement funds connected to lawsuits filed by a current or former U.S. president, their family members, or businesses they control against the federal government or a federal agency. The taxed amount would not count as regular taxable income, so only this special tax applies. Payments made on or after May 20, 2026 would be covered.
The bill directly affects any individual or organization that receives money from one of these qualifying settlement funds. Ordinary Americans with no connection to presidential lawsuits or settlement funds would not be directly affected.
Anyone who receives a covered settlement payment would lose the entire amount to the 100 percent tax. Managers of settlement funds who fail to file required IRS reports face fines, and recipients who deliberately evade the tax face an additional penalty.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: a Senate committee is reviewing it. If the House changes it, it goes back to the Senate before reaching the President.
Latest action: — Read twice and referred to the Committee on Finance.