Larson Moves to Block Trump Plan to Steal $10 Billion in Taxpayer Dollars from U.S. Treasury

Washington, D.C. - Following news of President Trump’s unprecedented $10 billion lawsuit against the IRS and the Treasury Department that he oversees, Rep. John B. Larson (CT-01) and his Democratic colleagues on the HouseWays and Means Committee introduced the Prevent Presidential Profiteering Act. 

“Donald Trump has a long track record of filing frivolous lawsuits to pad his own pockets – from 60 Minutes to George Stephanopoulos and the Wall Street Journal,” said Larson. “Now, he has a plan to steal our tax dollars by suing himself and leaving us on the hook for a $10 BILLION payout. Our Prevent Presidential Profiteering Act will block his latest scam by imposing a 100% levy on any civil settlement against the government brought by the President, their family, or their business entities. Whether it’s billion-dollar corporations screwing over their customers or billionaire presidents trying to make a quick buck off the American people, I will continue to stand up to this corruption plaguing our nation.”  

The Prevent Presidential Profiteering Act would impose a 100% tax on any civil settlement awarded to the President, the President’s immediate family, or any business entity they own or control, while the President was in office, if the underlying legal action as filed against the United States government.  

Full bill text is available HERE.