Bill · H.R. 9075· House(119-HR-9075)
Tax the Grift Act
Age: 62 years
Wisconsin
- Introduced
- 5/29/2026
- Last activity
- 5/29/2026 — Referred to the House Committee on Ways and Means.
- Sponsored by
- Mark Pocan
- Cosponsors
- None
Taxation
- Introduced
- In Committee
What this bill would do
This bill is known as the Tax the Grift Act. It amends the Internal Revenue Code of 1986. The bill imposes a tax on payments received from specific settlement funds. These funds are established as a result of a civil action filed by the President of the United States against the Internal Revenue Service. The tax rate is set at 100 percent of the qualified settlement fund payment received by a taxpayer. It also excludes these payments from a taxpayer's gross income and denies deductions from income tax for this new tax.
Who it would affect, and how
Potential Positive Impacts for People
- Exclusion from Gross Income: Under Section 2 and its addition of Section 5000E(c)(2) to the Internal Revenue Code, a taxpayer's gross income will not include any qualified settlement fund payment received. This means people will not have to pay regular income tax on these specific settlement amounts.
Potential Negative Impacts for People
- 100 Percent Tax Imposition: Under Section 2 and the new Section 5000E(a) of the Internal Revenue Code, a tax is imposed on any taxpayer equal to 100 percent of any qualified settlement fund payment received during the taxable year. This means the entire amount of the settlement payment is taxed away.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
No significant interests or groups are affected by this bill.
- 5/29/2026
- Referred to the House Committee on Ways and Means.
- Introduced in House