New 'embezzlement' act takes aim at Trump after $10 billion IRS lawsuit
Senate Democrats proposed a bill to tax 100% of lawsuit settlements received by presidents and officials, targeting Trump's $10 billion claim against the IRS.Summary
Senate Democrats have introduced the "Stop Presidential Embezzlement Act" in response to Donald Trump’s $10 billion lawsuit against the IRS and Treasury Department. The legislation aims to prevent presidents, vice presidents, cabinet members, and members of Congress from profiting from lawsuits filed against the government while in office by imposing a 100% tax on any resulting settlements.
The lawsuit, filed by Trump and his sons, alleges that the IRS failed to protect his tax information from leaks to the media between 2019 and 2020, perpetrated by former employee Charles Littlejohn, who is currently serving a prison sentence. Democrats, including Senator Ron Wyden and Senate Minority Leader Chuck Schumer, have criticized Trump’s actions as a conflict of interest and a corrupt attempt to personally benefit from litigation against his own government.
The bill’s proponents argue that taxpayers should not be forced to financially support a settlement benefiting Trump, especially given the current economic struggles faced by many American families. The lawsuit raises questions about the IRS’s liability for disclosing confidential tax records and its potential impact on the upcoming tax season, despite existing federal laws protecting taxpayer privacy.
(Source：Daily Express Us)