Sponsor
Andrea Salinas
Representative · D-OR
Representative · D-OR
Taxes a serving President's qualified net capital gain at 100% and applies a year‑end mark‑to‑market rule for most capital assets unless held only in a qualifying blind trust.
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
The bill closes avenues for tax deferral and increases year‑of‑service tax recognition for presidential assets—improving transparency—but does so by imposing near‑punitive taxation and new compliance burdens that could force asset restructurings, raise costs, and complicate IRS administration.
Presidents who place assets in a qualified blind trust: those assets are exempt from the bill's mark-to-market taxation while in office, reducing immediate tax liabilities and preserving investment returns for those holdings.
Presidents and other affected taxpayers with assets held outside qualified blind trusts: the bill requires annual mark-to-market recognition of gains realized while serving, preventing multi-year deferral of tax on those gains and increasing year‑of‑service tax transparency.
Presidents would be taxed at 100% on net capital gains in years they serve, effectively eliminating after-tax returns on those gains and substantially reducing the financial benefits of taxable investments while in office.
Presidents holding assets outside qualified blind trusts could be forced to recognize losses and gains annually, creating complex year-end tax liabilities and planning challenges for serving Presidents and their estates.
The high tax consequence on in-office gains would incentivize incoming Presidents to transfer more assets into qualified blind trusts, increasing demand for trust services and imposing potential setup costs and liquidity constraints on those individuals.
Based on analysis of 2 sections of legislative text.
Taxes all net capital gains of any individual who serves as President of the United States at a 100% rate for taxable years during presidential service and applies a year-end mark-to-market rule for most capital assets that are not held in specified blind trusts. It defines terms for which assets qualify for the reduced treatment, requires adjustments to prevent double taxation, and applies to taxable years beginning after December 31, 2024. The change amends the individual income tax rules to treat a serving President's qualified net capital gain as fully taxable and forces recognition of unrealized gains or losses at fair market value for nonqualified capital assets at year-end unless those assets are held only in a qualifying blind trust while the person serves as President.