NO PROFIT Act

Andrea Salinas

Democrat · OR · Representative

Source: Congress.gov · FEC

No cosponsors on record. Bills can pass without cosponsors — this often means the sponsor introduced the bill alone, either because it's a messaging bill, a chairman's mark, or simply early in the legislative cycle.

Referred to the House Committee on Ways and Means.

2026-06-29

Source: Congress.gov

The proposal would require sitting U.S. Presidents to pay federal income tax on the increase in value of their investments and assets each year, rather than only when those assets are sold. This would affect Presidents' personal finances by requiring annual tax payments on unrealized gains from stocks, real estate, and other property holdings. The change would be handled through the tax code and reviewed by the House Committee on Ways and Means.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 9529 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 9529 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. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 29, 2026 Ms. Salinas introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL 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. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``No Official Presidential Returns On Furtive Individual Trades Act'' or the ``NO PROFIT Act''. SEC. 2. IMPOSITION OF TAX ON NET CAPITAL GAIN ACCRUED WHILE SERVING AS PRESIDENT OF THE UNITED STATES. (a) In General.--Section 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection: ``(k) Special Rules for Net Capital Gain Accrued While Serving as President of the United States.-- ``(1) In general.--If a taxpayer has a qualified net capital gain for any applicable taxable year, the tax imposed by this section on such gain for such taxable year shall be equal to 100 percent of such gain. Proper adjustments shall be made in the application of this section to ensure that gain subject to tax under the preceding sentence is not subject to additional tax under this section. ``(2) Mark to market.--In the case of any capital asset other than a qualified capital asset which is held by a taxpayer at the close of any applicable taxable year-- ``(A) such taxpayer shall recognize gain or loss on such capital asset as if such capital asset were sold for its fair market value on the last business day of such taxable year, and ``(B) any gain or loss shall be taken into account for such taxable year. Proper adjustments shall be made in the amount of any gain or loss subsequently realized for gain or loss taken into account under the preceding sentence. ``(3) Definitions.--For purposes of this subsection-- ``(A) Qualified net capital gain.--The term `qualified net capital gain' means, with respect to any applicable taxable year, an amount equal to the excess (if any) of-- ``(i) the aggregate amount of gain from the sale or exchange during such taxable year of any capital asset other than a qualified capital asset, if and to the extent that such gain is taken into account in computing gross income, over ``(ii) the aggregate amount of loss from the sale or exchange during such taxable year of any capital asset other than a qualified capital asset, if and to the extent that such loss is taken into account in computing taxable income. ``(B) Qualified capital asset.--The term `qualified capital asset' means, with respect to any taxpayer, any capital asset which, at all times during which the individual is serving as President of the United States, is not held by such taxpayer other than in a qualified blind trust (as defined in section 13104(f)(3) of title 5, United States Code). ``(C) Applicable taxable year.--The term `applicable taxable year' means, with respect to any taxpayer, any taxable year during any portion of which the individual served as President of the United States.''. (b) Effective Date.--The amendment made by subsection (a) shall apply with respect to taxable years beginning after December 31, 2024. <all>

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