Schumer-Wyden Bill Would Block Trump From Enriching Himself Off The Backs Of American Taxpayers

Washington, D.C. – Senate Democratic Leader Chuck Schumer (D-N.Y.) and Senate Finance Committee Ranking Member Ron Wyden (D-Ore.) introduced the Stop Presidential Embezzlement Act that would claw back any financial benefit to Donald Trump resulting from his corrupt lawsuits against his own government agencies, including his $10 billion lawsuit against the IRS and Treasury Department. Trump sued late last month over the leak of his tax returns several years ago by an outside contractor.

“Donald Trump’s greed knows no bounds,” Leader Schumer said. “As American families struggle to make ends meet or put food on the table, Donald Trump tries to enrich himself at the expense of American taxpayers. Suing your own government to extract billions from taxpayers is corruption, plain and simple. Senate Democrats will fight to stop Trump from turning the presidency into a personal piggy bank.”

“Saying that Trump’s lawsuit against his own government creates a conflict of interest does not begin to describe the depth of corruption behind what he’s doing,” Senator Wyden said. “At a time when so many American families are struggling to get by, it’s a shameful abuse of office for Trump to put himself in line to pocket billions of taxpayer dollars. The only reason Trump is talking about donating this money is because even he realizes what he’s doing is indefensible with the public, and given that he’s a lifelong cheat and conman, there’s no reason to trust he’d even follow through with the donation anyway. Odds are he’d find a way to profit from any settlement or throw it into some vanity project like his fancy ballroom, so Congress needs to shut it down immediately.”

The Stop Presidential Embezzlement Act would impose a 100 percent tax on any settlement a president, vice president, cabinet member, or member of Congress receives from the government as a result of a lawsuit filed while in office. Legislative text is available here. Also cosponsoring the proposal are Senators Ben Ray Lujan (D-N.M.) and Peter Welch (D-Vt.).

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