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Executive Branch Conflict of Interest Act
1/11/2023, 1:43 PM
Summary of Bill HR 244
Under this legislation, officials such as the President, Vice President, and Cabinet members would be required to divest themselves of any financial holdings that could potentially influence their decision-making while in office. Additionally, the bill would establish a process for reviewing and addressing potential conflicts of interest, including the appointment of an independent ethics officer to oversee compliance with the law.
The Executive Branch Conflict of Interest Act also includes provisions for penalties for officials found to be in violation of the law, including fines and potential removal from office. The goal of this legislation is to ensure that government officials act in the best interests of the American people, rather than their own personal financial gain. Overall, Bill 117 HR 244 represents a significant step towards promoting transparency and accountability within the executive branch of the US government, and aims to prevent conflicts of interest that could undermine the integrity of our democracy.
Congressional Summary of HR 244
Executive Branch Conflict of Interest Act
This bill expands and establishes new prohibitions related to conflicts of interest involving certain federal government employees.
Specifically, the bill prohibits a federal government employee from accepting a bonus from a former private sector employer for entering government service.
The bill prohibits certain senior officials from using their position to participate in matters wherein a former employer or client has a financial interest, and it establishes penalties for an official who violates this prohibition. The bill also increases lobbying restrictions to two years for certain senior officials.
In addition, the bill expands prohibitions that prevent certain former officials who were responsible for specified government contracts from receiving compensation from a participating contractor, contractor's affiliate, or subcontractor. The bill also prohibits a procurement officer in the federal government from working for a company that received a contract overseen by the procurement officer during the officer's last two years in government service.
