Referred to the House Committee on Ways and Means.
The bill bars the Treasury Secretary and IRS from entering into or enforcing any agreement, order, waiver, release, or similar instrument that affects federal tax matters for the President, certain relatives, or related persons during the President's term. It requires rapid public reporting of any such instruments and permits disclosure of return information as needed to satisfy those reporting rules.
Transparency and accountability versus taxpayer privacy and confidentiality
Relative to its intended legislative type, this bill is a substantive amendment to the Internal Revenue Code that is generally well-specified in terms of prohibitions, definitions, statutory placement, reporting requirements, and effective dates.
The bill bars the Treasury Secretary and IRS from entering into or enforcing any agreement, order, waiver, release, or similar instrument that affects federal tax matters for the President, certain relatives, or related persons during the President's term.
It requires rapid public reporting of any such instruments and permits disclosure of return information as needed to satisfy those reporting rules.
For covered instruments made between January 20, 2025 and enactment, the statute of limitations for assessment or collection is extended until three years after the President's term concludes.
Narrow substantive change but politically charged, alters long-standing return confidentiality, and includes retroactivity—all reduce enactment probability.
Relative to its intended legislative type, this bill is a substantive amendment to the Internal Revenue Code that is generally well-specified in terms of prohibitions, definitions, statutory placement, reporting requirements, and effective dates. It integrates conscientiously with existing Code sections and provides concrete timelines for oversight disclosures.
Transparency and accountability versus taxpayer privacy and confidentiality
These are examples from the analysis, not a ranked list of the most-affected groups.
Transparency and accountability versus taxpayer privacy and confidentiality
Likely views the bill positively as strengthening transparency and preventing secret deals that could shield the President or associates from tax scrutiny.
Prefers public reporting and limits on administrative releases to reduce conflicts of interest and accountability gaps.
May still have modest privacy concerns about family members and want robust public-interest implementation.
Sees legitimate goals in accountability and reducing conflicts of interest, but worries about due-process, taxpayer privacy, and IRS operational strain.
Cautious about retroactive extensions of limitation periods and broad public disclosure of return information.
Would favor targeted fixes, clear definitions, and safeguards to protect unrelated third parties and ensure administrative feasibility.
Likely opposes the bill as federal overreach that undermines standard IRS settlement tools and taxpayer confidentiality.
Views expanded public disclosure and retroactive extension of assessment periods as politically motivated and potentially punitive.
Concerned the law would politicize tax administration and chill ordinary resolution of tax disputes.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Narrow substantive change but politically charged, alters long-standing return confidentiality, and includes retroactivity—all reduce enactment probability.
The bill has not accumulated any surfaced votes yet.
Transparency and accountability versus taxpayer privacy and confidentiality
Narrow substantive change but politically charged, alters long-standing return confidentiality, and includes retroactivity—all reduce enact…
Relative to its intended legislative type, this bill is a substantive amendment to the Internal Revenue Code that is generally well-specified in terms of prohibitions, definitions, statutory placement, reporting require…
Go beyond the headline summary with full stakeholder mapping, legislative design analysis, passage barriers, and lens-by-lens tradeoff breakdowns.