,,ii  #aaith ,,congress  #b;d ,session  
,s4 #eddh  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,september #bb1
 #bjbf,mr4 ,blumenthal introduced the   
following bill2 which was read twice and
 referred to the ,committee on ,finance 
,a ,,bill  ,to amend the ,internal      
,revenue ,code of #aihf to establish a  
surtax on income which is attributable  
to substantial favorable ,federal       
,government action and received by      
companies owned or controlled by covered
 public officials or their family       
members4  #a4 ,short title ,this ,act   
may be cited as the ,anti-,corruption   
,tax 7,,act7 ,act4  #b4 ,public office  
windfall tax  7a7 ,in general           
,subchapter ,a of chapter #a of the     
,internal ,revenue ,code of #aihf is    
amended by adding at the end the        
following new part3  ,,viii ,public     
office windfall tax  ,sec4 #ei;,b4      
,public office windfall tax4  #ei;,b4   
,public office windfall tax  7a7 ,in    
general ,there is hereby imposed on each

 covered individual for any taxable year
 a tax equal to #ajj percent of the     
public office windfall income of such   
individual4 ,such tax shall be in       
addition to any other tax imposed by    
this subtitle4  7b7 ,covered individual 
,for purposes of this section1 the term 
covered individual means-- 7#a7 any     
individual who has served as ,president 
or ,vice ,president or in a position at 
level ,i of the ,executive ,schedule    
under section #ecab of title #e1 ,united
 ,states ,code1  7#b7 any individual who
 was married to an individual described 
in paragraph 7#a7 during the period in  
which a covered favorable government    
action was made1 and  7#c7 any child 7as
 defined in section #aeb7;f77#a77 of an 
individual described in paragraph 7#a74 
7c7 ,public office windfall income ,for 
purposes of this section-- 7#a7 ,in     
general ,the term public office windfall
 income means taxable income which is   
attributable to a covered favorable     
government action4  7#b7 ,covered       

favorable government action ,the term   
covered favorable government action     
means1 with respect to any covered      
individual1 any discretionary ,federal  
action which is taken during the time   
the individual described in subsection  
7b77#a7 serves in a position described  
in such subsection and which-- 7,a7 is  
directed to a covered individual or an  
entity beneficially owned by a covered  
individual1  7,b7 is reasonably expected
 to confer a substantial economic       
benefit beyond that resulting from      
routine or ministerial governmental     
action1 and  7,c7 consists of one or    
more of the following3 7i7 ,the issuance
 of a ,federal bank charter1 trust      
charter1 special purpose charter1       
license1 registration1 approval1 or     
other discretionary ,federal            
authorization permitting an entity to   
engage in banking1 payments1 digital    
asset activities1 or other regulated    
financial activities4  7ii7 ,the        
issuance of a ,federal license or       

franchise4  7iii7 ,the issuance of a    
discretionary ,federal permit or        
authorization that is not routine or    
ministerial4  7iv7 ,the award of a      
,federal lease involving public lands1  
mineral resources1 offshore energy      
development1 or other valuable ,federal 
assets4  7v7 ,the award of a ,federal   
contract4  7vi7 ,the grant of a         
discretionary exemption1 waiver1 or     
similar individualized relief from a    
requirement of ,federal law or          
regulation4  7vii7 ,the award of        
discretionary ,federal financial        
assistance1 including grants1           
cooperative agreements1 loans1 loan     
guarantees1 or other forms of financial 
assistance4  7viii7 ,the approval of a  
merger1 acquisition1 consolidation1     
change in control1 or similar           
transaction requiring discretionary     
approval by a ,federal agency4  7#c7    
,beneficially owned ,for purpose of     
paragraph 7#b77;,a71 the term           
beneficially owned has the meaning given

 such term under section #ajaj4bcj of   
title #ca1 ,code of ,federal            
,regulations 7as in effect on the date  
of the enactment of this section74  4   
7b7 ,clerical amendment ,the table of   
parts for subchapter ,a of chapter #a of
 the ,internal ,revenue ,code of #aihf  
is amended by adding at the end the     
following new item3  ,,part             
,,viii--,public office windfall tax  4  
7c7 ,effective date ,the amendments made
 by this section shall apply to taxable 
years ending after ,january #bj1 #bjbe4