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Increased Financial Transparency for President, Vice President, and Their Families.

This law introduces broad new requirements for financial disclosure by the President, Vice President, and their close relatives. Citizens will gain access to detailed information regarding gifts, loans, foreign payments, and tax returns of the highest executive officials, aiming to increase trust and limit potential conflicts of interest. Disclosure is also required for official travel accompanied by family members, especially if related to commercial purposes.
Key points
The President and Vice President must disclose their federal income tax returns, as well as those of spouses and controlled entities.
Reporting is mandatory for gifts over $10,000, loans, and any payments received from foreign entities by the official or their family.
The law requires public disclosure of potential conflicts of interest and details of official travel accompanied by family members.
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Expired
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Additional Information
Print number: 118_HR_8489
Sponsor: Rep. Comer, James [R-KY-1]
Process start date: 2024-05-22
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Presidential Ethics Reform Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_8489.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-05-22.

What are the main provisions?

Key points include:

  • The President and Vice President must disclose their federal income tax returns, as well as those of spouses and controlled entities.
  • Reporting is mandatory for gifts over $10,000, loans, and any payments received from foreign entities by the official or their family.
  • The law requires public disclosure of potential conflicts of interest and details of official travel accompanied by family members.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Comer, James [R-KY-1].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Oversight and Accountability.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Courts and Law Economy