The NO PROFIT Act would impose a 100 percent tax on net capital gains that a sitting U.S. President accrues during their time in office. Under the bill, any profits from selling stocks, real estate, or other investments while serving as President would be subject to this punitive tax rate, effectively requiring the President to surrender all such gains to the government. The legislation also includes a "mark to market" provision that would require Presidents to recognize gains or losses on most assets annually, as if they were sold at year-end, though assets held in qualified blind trusts would be exempt from this rule. The bill would apply retroactively to tax years beginning after December 31, 2024, and would be enforced through amendments to the Internal Revenue Code. The stated purpose is to prevent sitting Presidents from profiting financially from their investments during their tenure in office.
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