LARSON AND WAYS AND MEANS DEMOCRATS INTRODUCE SLUSH FUND ACT TO TAX PRESIDENTIAL SETTLEMENTS AT 100%

Washington, May 20 -- Rep. John B. Larson issued the following press release:

Today, Rep. John B. Larson (CT-01) announced new legislation to prevent sitting presidents from profiting off of lawsuits against their own government with Tax Subcommittee Ranking Member Mike Thompson (CA-04) and Ways and Means Committee Ranking Member Richard E. Neal (MA-01).

The SLUSH FUND Act would tax the President's unethical $1.8 billion slush fund settlement with the IRS meant to benefit January 6th rioters and other MAGA allies at 100 percent, rightfully returning taxpayers' money back to the people of the United States. The legislation also imposes an additional 50 percent penalty on any willful attempt to avoid or evade the tax. This week, Larson ann...