Washington, D.C. – Senate Finance Committee Ranking Member Ron Wyden (D-Ore.) and Democratic Leader Chuck Schumer (D-N.Y.) today introduced legislation that would impose a 100 percent tax on payments from Donald Trump’s $1.8 billion slush fund for right-wing political violence and election subversion. Congressman Mike Thompson (CA-04) first introduced the bill in the House of Representatives earlier this week.
“The announcement of this slush fund was staggeringly corrupt even by Trump’s bottom-dwelling standards,” Senator Wyden said. “Congress must do whatever it takes to prevent Donald Trump from stealing $1.8 billion from the American people to fund right-wing violence and handouts to insurrectionists. This money doesn’t belong to Donald Trump, it belongs to the taxpayer.”
“Donald Trump cannot be allowed to sue his own government, settle with his own Justice Department, and then turn taxpayer money into payouts for his allies, cronies, and insurrectionists,” said Leader Schumer. “This money belongs to the American people — not Trump, not his loyalists, and not the people who tried to overturn an election. If even one cent of this corrupt slush fund goes out the door, Senate Democrats will make sure it goes right back to the taxpayers.”
The Stop Letting United States Heads Funnel Unauthorized Nontransparent Dollars Act of 2026, or SLUSH FUND Act, would impose a 100 percent excise tax on any settlement payment received from a fund whose assets are derived from a civil suit initiated by a President against the United States. It would also impose an additional 50 percent penalty in the case of any willful attempt to avoid or evade the tax. To ensure compliance and transparency, the bill would require information reporting on payments from the fund to both the individual receiving the payment and the Secretary of the Treasury, including notice that the payments are subject to the 100 percent excise tax. Failure to file the required information reports would result in a $10,000 penalty per failure. Finally, the bill would require the Secretary of the Treasury to make these information reports publicly available.
The text of the bill is here.
A web version of this release is here.
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