Senate Democrats introduce Stop Presidential Embezzlement Act to block Trump from profiting off his IRS lawsuit

Senate Finance Committee Ranking Member Ron Wyden and Minority Leader Chuck Schumer introduced the Stop Presidential Embezzlement Act on February 11, 2026, one week after Wyden and Sen. Elizabeth Warren sent letters to Treasury Secretary Scott Bessent and Attorney General Pam Bondi demanding to know whether they would defend the IRS or help Trump extract a taxpayer-funded settlement. The bill would impose a 100 percent tax on any settlement or award a sitting president, vice president, cabinet member, or member of Congress receives from a lawsuit filed against the government while in office. Senators Ben Ray Lujan and Peter Welch co-sponsored the legislation.