Tax the Grift Act
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill creates short title This Act may be cited as the Tax the Grift Act, requires imposition of tax on qualified settlement fund payments Subtitle D of the Internal Revenue Code of 1986 is amended by adding at the end the following new chapter: 50BQualified settlement fund paymentsSec, and requires imposition of tax on qualified settlement fund payments There is hereby imposed on any taxpayer for any taxable year a tax equal to 100 percent of any qualified settlement fund payment received by such taxpayer. It relies on tax rate changes, definition changes, compliance mandates, and liability protections. The main policy areas are Tax.
Who Benefits and How
Public beneficiaries or protected communities affected by the clause could face reduced risk and Regulated entities and members of the public affected by the bill could face reduced risk.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties and Regulated entities and members of the public affected by the bill would take on compliance duties.
Key Provisions
- Creates short title This Act may be cited as the Tax the Grift Act.
- Requires imposition of tax on qualified settlement fund payments Subtitle D of the Internal Revenue Code of 1986 is amended by adding at the end the following new chapter: 50BQualified settlement fund paymentsSec.
- Requires imposition of tax on qualified settlement fund payments There is hereby imposed on any taxpayer for any taxable year a tax equal to 100 percent of any qualified settlement fund payment received by such taxpayer...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill creates short title This Act may be cited as the Tax the Grift Act, requires imposition of tax on qualified settlement fund payments Subtitle D of the Internal Revenue Code of 1986 is amended by adding at the end the following new chapter: 50BQualified settlement fund paymentsSec, and requires imposition of tax on qualified settlement fund payments There is hereby imposed on any taxpayer for any taxable year a tax equal to 100 percent of any qualified settlement fund payment received by such taxpayer.
Key Policy Areas
Tax
Primary Purpose
The bill creates short title This Act may be cited as the Tax the Grift Act, requires imposition of tax on qualified settlement fund payments Subtitle D of the Internal Revenue Code of 1986 is amended by adding at the end the following new chapter: 50BQualified settlement fund paymentsSec, and requires imposition of tax on qualified settlement fund payments There is hereby imposed on any taxpayer for any taxable year a tax equal to 100 percent of any qualified settlement fund payment received by such taxpayer.
Policy Domains
Whole bill
Identified Gains
- Public beneficiaries or protected communities affected by the clause
- Regulated entities and members of the public affected by the bill
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
- Regulated entities and members of the public affected by the bill
Sponsors
Legislative Progress
In CommitteeReferred to the House Committee on Ways and Means.
Introduced in House
Mr. Pocan introduced the following bill; which was referred to …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
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