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In response to President Donald Trump's $10bn lawsuit against the IRS and Treasury, House Ways and Means Committee member Mike Thompson (D-CA) plans to introduce the Prevent Presidential Profiteering Act. This legislation aims to impose a 100% tax on any civil judgment or settlement awarded to a sitting president or their immediate family if the lawsuit was filed during their term. Mr. Thompson criticized Mr. Trump, saying: “He continues to use the Office of the Presidency for personal gain.” The lawsuit, filed by the president and his sons, seeks damages for the alleged mishandling of their confidential tax information by an IRS contractor. Mr. Thompson's bill will be formally introduced in the House this week. Mr. Trump, meanwhile, has pledged to donate any money won in the lawsuit. “Any money that I win, I’ll give it to charity, one hundred percent to charity, charities that will be approved by government or whatever,” he said in an interview with NBC News.
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