Rep. Watson Coleman Introduces Legislation to Curb Profiteering by President
Today, Congresswoman Bonnie Watson Coleman (NJ-12) introduced comprehensive legislation to curb profiteering by the President and his family, the Stop Padding Presidential Pockets Act.
Since the start of his second term, President Trump has engaged in a number of schemes that used his position as President to increase his personal wealth. Multiple reports confirm that the President’s net worth has increased by $3 billion from 2024 to 2025. The President has amassed a vast fortune while cutting services to millions of everyday Americans who are living paycheck-to-paycheck.
The Stop Padding Presidential Pockets Act will
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Require anyone who receives Secret Service protection and travels in furtherance of the business interests and financial benefits of the President to reimburse the treasury for costs incurred by the Government pertaining to that travel, including for the provision of Secret Service protection;
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Amend the Federal Tort Claims Act so that no sitting president or their immediate family members can file or benefit from a claim while the president is in office;
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Amend the Presidential Libraries Act so that the president and their immediate family cannot solicit gifts or donations for their future Presidential library and museum;
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Require the President and Vice President to remove themselves from any of their personal business activity and put all their financial holdings into a blind trust; and
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Require the immediate family of the President and Vice President to provide quarterly reports of their financial holdings and refrain from joining boards of for-profit organizations.
“The President has made a killing for himself and his family by wielding the power of the Office while everyday Americans are struggling,” said Watson Coleman. “When the people elect a President, they are putting their trust in him or her to execute the responsibilities of that office with the public good in mind. The President has violated that trust and so measures must be taken to ensure this or any future President puts the needs of the people first.”
This year, Congresswoman Watson Coleman has documented many of the President's and his family's corrupt actions in a series of videos.
The Padding Presidential Pockets Act is cosponsored by Rep. LaMonica McIver (NJ-10).
Text of the act can be read here.