Sponsor
The bill closes a presidential tax‑deferral loophole by applying annual mark‑to‑market tax rules (increasing transparency and tax collection) but does so in a way that can impose punitive 100% taxation, compliance burdens, and administrative costs that may push presidents into blind trusts or create liquidity and enforcement challenges.
Presidents and taxpayers: the bill requires annual mark-to-market recognition of gains on non‑trust assets, preventing deferral of taxable gains realized while serving and closing a loophole for in‑office tax deferral.
Presidents who place assets in a qualified blind trust: those trust-held assets are excluded from the mark‑to‑market rule while in office, allowing such presidents to avoid annual mark‑to‑market taxation on those assets.
Presidents and their investment returns: net capital gains realized during years in office would be taxed at 100%, effectively eliminating after‑tax returns on those gains.
Presidents and their estates: the mark‑to‑market rule could force recognition of gains or losses for assets not in blind trusts, creating complex year‑end tax liabilities and compliance burdens for the officeholder and their estate.
Incoming Presidents and their finances: the high tax treatment incentivizes transferring assets into qualified blind trusts, increasing demand for such trusts and potentially raising costs or creating liquidity constraints for incoming officeholders.
Based on analysis of 2 sections of legislative text.
Representative · D-OR
For any taxable year a person serves as President, net capital gains not held in a qualified blind trust are recognized at year-end and taxed at 100%.
Taxes capital gains realized while a person serves as President at a 100% rate for the applicable tax year and requires year-end mark-to-market accounting for capital assets not held in a narrowly defined blind trust. Only gains from “qualified capital assets” — those held solely in a qualified blind trust while the individual serves as President — escape the 100% tax; other capital gains are recognized and taxed as ordinary taxable income for the presidential year. The rule applies to taxable years beginning after December 31, 2024 and includes adjustments to avoid double taxation.
Official title: To amend the Internal Revenue Code of 1986 to impose a tax on net capital gain accrued while serving as President of the United States.
Introduced June 29, 2026 by Andrea Salinas · Last progress June 29, 2026