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New Bill Targets Presidential Profiteering Amid Trump's Lawsuit

2/6/2026

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Summary

Story summary

In response to U.S. President Donald Trump filing a $10 billion lawsuit against the IRS, Rep. Mike Thompson (D-CA) introduced the Prevent Presidential Profiteering Act.
The bill would impose a 100 percent tax on any settlement awarded to a sitting president who sues the federal government.
Thompson criticized Trump for using the presidency for personal gain.
The lawsuit has sparked a broader debate on public accountability and presidential power.

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Story summary

In response to U.S. President Donald Trump filing a $10 billion lawsuit against the IRS, Rep. Mike Thompson (D-CA) introduced the Prevent Presidential Profiteering Act.
The bill would impose a 100 percent tax on any settlement awarded to a sitting president who sues the federal government.
Thompson criticized Trump for using the presidency for personal gain.
The lawsuit has sparked a broader debate on public accountability and presidential power.