Denying Expenditures for False Accusations with Malicious Effect (DEFAME) Act

Summary

Denying Expenditures for False Accusations with Malicious Effect (DEFAME) Act This bill denies certain large corporations (i.e., corporations with gross income exceeding $10 billion in the preceding taxable year) a tax deduction for certain payments relating to defamation law suits, including the applicable defamation suit payment, attorneys' fees, and insurance premiums. The bill defines applicable defamation suit payment as any payment that (1) is made in connection with a defamation suit for which proof of actual malice is required to succeed on the merits, (2) is paid pursuant to a settlement or court order, and (3) exceeds $500 million in the aggregate.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 26 July 2023

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 26 July 2023

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• Introduced in Senate

  summary · EN · 26 July 2023

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