United States 119th Congress Status: In Committee Bipartisan · 8 D · 1 I cosponsors

S 588 — Presidential Audit and Tax Transparency Act

Last action — Read twice and referred to the Committee on Finance.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the Senate. Introduced February 13, 2025. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the Senate.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Advancing 42% · moderate confidence

  • In Committee

    Current position in the legislative process.

  • 9 sponsors

    1 primary, 8 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (8 D · 1 I) — cross-party backing.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Bill Text

How this bill changes current law

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AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill mandates the examination and public disclosure of Presidential income tax returns and audit reports.

  • Subchapter A of chapter 78 of the Internal Revenue Code of 1986

    SEC. 7613. EXAMINATION WITH RESPECT TO PRESIDENTIAL INCOME TAX RETURNS.

    Establishes a new section requiring examinations of Presidential tax returns.

  • Subchapter A of chapter 78 of the Internal Revenue Code of 1986

    (a) In General.--As rapidly as practicable after the filing of any Presidential income tax return, the Secretary shall conduct an examination to ascertain the correctness of such return and enforce the requirements of this title with respect to the taxable year covered by such return.

    Requires the Secretary to promptly examine Presidential income tax returns.

  • Section 6103 of the Internal Revenue Code

    ``(q) Disclosure With Respect to Presidential Income Tax Returns.--

    Introduces a new disclosure requirement for Presidential income tax returns.

  • Section 6103 of the Internal Revenue Code

    `(1) In general.--The Secretary shall disclose and make publicly available (within the meaning of section 7613(b))--

    Mandates public disclosure of Presidential income tax returns and related reports.

  • Internal Revenue Code of 1986

    ``(A) each Presidential income tax return (as defined in section 7613(c)),``

    Specifies that each Presidential income tax return must be disclosed publicly.

  • Internal Revenue Code of 1986

    ``(B) each report described in section 7613(b), and``

    Requires public availability of examination reports related to Presidential income tax returns.

  • Internal Revenue Code of 1986

    ``(C) any audit materials with respect a return described in subparagraph (A).``

    Mandates disclosure of audit materials connected with Presidential income tax returns.

Action History

  1. Introduced in Senate

  2. Read twice and referred to the Committee on Finance.

Sponsors

Sponsorship breakdown

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1 sponsors · 8 co-sponsors · 538 not signed on

Sponsors (1)

Co-sponsors (8)

Not signed on (538)

538 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors S 588?
S 588 is sponsored by Wyden, Ron (Democratic), Klobuchar, Amy (Democratic), Kaine, Tim (Democratic), Warren, Elizabeth (Democratic), Merkley, Jeff (Democratic), Whitehouse, Sheldon (Democratic), Sanders, Bernard (Independent), Cantwell, Maria (Democratic), and Van Hollen, Chris (Democratic).
What is the current status of S 588?
This bill is in committee in the Senate. Introduced February 13, 2025. It must pass committee before a floor vote.
Where can I track S 588?
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Last checked for changes 3 months ago · updated continuously

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