Anti-Corruption Tax (ACT) Act
The source supplies the latest action, but no lifecycle stage.
Latest action (22 Sep 2026): Read twice and referred to the Committee on Finance.
What this bill does
The Anti-Corruption Tax (ACT) Act, introduced in the Senate, proposes a new tax. If enacted, it would create a 100% surtax on income earned by companies that is considered "public office windfall income." This type of income is defined as taxable income resulting from specific favorable actions taken by the Federal government.
This surtax would apply to "covered individuals," which include former Presidents, Vice Presidents, and individuals at Level I of the Executive Schedule. It would also apply to their spouses and children. The income subject to the tax would be that which is substantially beneficial and traceable to certain discretionary federal actions, such as the issuance of licenses, leases, contracts, or grants of financial assistance.
The bill was introduced on September 22, 2026, and was referred to the Senate Committee on Finance. It is currently in the early stages of the legislative process. If passed by both the Senate and the House of Representatives and signed by the President, it would amend the Internal Revenue Code.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Timeline
22 Sep 2026
Read twice and referred to the Committee on Finance.
Common questions
- What does S. 5448 do?
- The Anti-Corruption Tax (ACT) Act, introduced in the Senate, proposes a new tax. If enacted, it would create a 100% surtax on income earned by companies that is considered "public office windfall income." This type of income is defined as taxable income resulting from specific favorable actions taken by the Federal government. This surtax would apply to "covered individuals," which include former Presidents, Vice Presidents, and individuals at Level I of the Executive Schedule. It would also apply to their spouses and children. The income subject to the tax would be that which is substantially beneficial and traceable to certain discretionary federal actions, such as the issuance of licenses, leases, contracts, or grants of financial assistance. The bill was introduced on September 22, 2026, and was referred to the Senate Committee on Finance. It is currently in the early stages of the legislative process. If passed by both the Senate and the House of Representatives and signed by the President, it would amend the Internal Revenue Code.
- Has S. 5448 become law?
- The source does not supply a confirmed lifecycle stage for S. 5448. Check the latest action and official source below.
- Who sponsored S. 5448?
- S. 5448 was sponsored by Sen. Blumenthal, Richard [D-CT] (D-CT), with 0 cosponsors.
- What's the latest action on S. 5448?
- Read twice and referred to the Committee on Finance. (22 Sep 2026).
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