Improving the Lives of the American People Act
A BILL
To improve the lives of the American people, and for other purposes.
Sec. 2 119h6731ihRestrictions on trade and ownership of covered investments
“IV Restrictions on trade and ownership of covered investments
“13151. Definitions
“In this subchapter:
“(1) Commodity—The term commodity—
“(A) has the meaning given the term in section 1a of the Commodity Exchange Act (7 U.S.C. 1a); and
“(B) does not include a precious metal (as defined in section 1027.100 of title 31, Code of Federal Regulations).
“(2) Covered individual—The term covered individual means any of the following:
“(A) A Member of Congress, as defined in section 13101.
“(B) A dependent child (as defined in section 13101) or a spouse of a Member of Congress.
“(C) A trustee of a trust in which an individual described in subparagraph (A) or (B) has a beneficial interest in the principal or income of the trust as described in section 1403(b)(5) of the Internal Revenue Code of 1986.
“(D) The President, or the spouse or a dependent child (as defined in section 13101) of the President.
“(E) The Vice President, or the spouse or a dependent child (as defined in section 13101) of the Vice President.
“(3) Covered investment—The term covered investment—
“(A) means an investment in a security, a commodity, a future, or any comparable economic interest acquired through synthetic means, such as the use of a derivative, including an option, warrant, or other similar means; and
“(B) does not include—
“(i) a widely held investment fund described in section 13104(f)(8) that is diversified and publicly traded on a national or regional stock exchange;
“(ii) a United States Treasury bill, note, or bond;
“(iii) a State or municipal government bill, note, or bond;
“(iv) any compensation received by a spouse or a dependent child described in paragraph (2) from an employer of the spouse or dependent child;
“(v) an interest in a small business concern and, in the case of an investment in a family farm or ranch that qualifies as an interest in a small business concern, a future or commodity directly related to the farming activities and products of the farm or ranch;
“(vi) an interest in a limited liability company created for the sole purpose of purchasing or holding real estate that serves as the personal residences of the Member of Congress;
“(vii) any share of Settlement Common Stock issued under section 7(g)(1)(A) of the Alaska Native Claims Settlement Act (43 U.S.C. 1606(g)(1)(A)); or
“(viii) any share of Settlement Common Stock, as defined in section 3 of the Alaska Native Claims Settlement Act (43 U.S.C. 1602).
“(4) Diversified—The term diversified, with respect to an investment fund, means such fund does not have a stated policy of concentrating its investments in any industry, business, single country other than the United States, or bonds of a single State within the United States except for the State in which the Member of Congress resides.
“(5) Future—The term future means a financial contract obligating the buyer to purchase an asset or the seller to sell an asset, such as a physical commodity or a financial investment, at a predetermined future date and price.
“(6) Security—The term security has the meaning given the term in section 3(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)).
“(7) Small Business Concern—The term small business concern has the meaning given that term under section 3 of the Small Business Act (15 U.S.C. 632).
“(8) Supervising ethics office—The term supervising ethics office has the meaning given the term in section 13101.
“13152. Trade and ownership of covered investments
“(a) Conduct during federal service—Except as described in subsection (b)(1)(B) and subsections (e) through (g), no covered individual may, directly or indirectly, own or trade a covered investment.
“(b) Compliance
“(1) Requirement—To comply with subsection (a)—
“(A) a covered individual may not purchase a covered investment; and
“(B) a covered individual shall divest of any covered investment by the effective date established in paragraph (2) at fair market value.
“(2) Effective date—The effective date is established as follows:
“(A) 180 days for an individual who is a covered individual on the date of enactment of the Restore Trust in Government Act.
“(B) 90 days within the date on which an individual becomes a covered individual if such date occurs after the date of enactment of the Restore Trust in Government Act.
“(c) Certificates of divestiture
“(1) Application of certificate of divestiture program—For purposes of section 1043 of the Internal Revenue Code of 1986—
“(A) this section shall be treated as a Federal conflict of interest statute;
“(B) any covered individual described in section 13151(2)(A) shall be treated as an eligible person described in section 1043(b)(1)(A) of such Code; and
“(C) any spouse or dependent child described in section 13151(2)(B) shall be treated as an eligible person described in section 1043(b)(1)(B) of such Code.
“(2) Issuance of certificate of divestiture
“(A) In general—Each supervising ethics office shall issue a certificate of divestiture to each covered individual required to divest under this subchapter upon submission of proof of compliance by such individual with the requirements to divest or any extensions granted by the supervising ethics office.
“(B) Eligibility—Such certificate shall include an identification of each specific property eligible for the application of the certificate of divestiture program as determined by the supervising ethics office.
“(d) Income tax—A loss from a transaction or holding involving a covered financial instrument that is conducted in violation of this section may not be deducted from the amount of income tax owed by the covered individual.
“(e) Occupational exception—A spouse or dependent child of a covered individual as described in section 13151(2)(B) may trade any covered investment if such covered investment is not owned by a covered individual and if such trade is performed as a function of the primary occupation of the spouse or dependent child.
“(f) Trusts
“(1) Qualified blind trust—Any covered investment held in a qualified blind trust as defined in section 13104(f)(3) shall be divested in accordance with subsection (b)(1)(B) by the effective date established in subsection (b)(2).
“(2) Family trust—A supervising ethics office may grant an exemption for covered investments held in a family trust only if—
“(A) no covered individual—
“(i) is a grantor of the family trust;
“(ii) contributed any covered investment to the family trust; or
“(iii) has any authority over a trustee of the family trust, including the authority to appoint, replace, or direct the actions of such a trustee; and
“(B) the grantor of the family trust is or was a family member of the covered individual.
“(3) Requests—A covered individual seeking an exemption under paragraph (2) shall submit to the applicable supervising ethics office a request for the exemption, in writing, certifying that the conditions described in that paragraph are met.
“(g) Assets acquired in special circumstances—In the event that a covered individual acquires a covered investment after the date of enactment of the Restore Trust in Government Act other than by purchase (such as by marriage, inheritance, divorce settlement, or other circumstance), the covered individual shall have 90 days from the date on which such investment was acquired to divest such covered investment at fair market value.
“(h) Extension—A supervising ethics office may grant a covered individual an extension of time to comply with a divestment deadline under this subchapter if a covered investment cannot be divested by such deadline due to low liquidity, vesting schedules, or contractual restrictions.
“(i) Interpretative guidance—The supervising ethics office shall issue interpretive guidance on any relevant term not defined in this subchapter.
“13153. Penalties
“(a) In general
“(1) Penalties—Any covered individual who violates the restrictions on trading or ownership of covered investments in section 13152 shall, at the direction of the supervising ethics office—
“(A) pay a fee equal to ten percent of the value of the covered investment; and
“(B) disgorge the profits of any transaction that violates the provisions of this subchapter.
“(2) Payment of penalty to Treasury—A penalty imposed under paragraph (1)(B) shall be payable into the Treasury of the United States.
“(b) Payment restrictions—A Member of Congress may not pay any of the penalties under this section by using amounts from the following sources:
“(1) The Members’ Representational Allowance.
“(2) The Senators’ Official Personnel and Office Expense Account.
“(3) Any contribution (as defined in section 301(8) of the Federal Election Campaign Act of 1971 (52 U.S.C. 30101(8))) accepted as a candidate, and any other donation received as support for activities of the individual as a holder of Federal office.
“(c) Publication—Each supervising ethics office shall publish on a publicly available website a description of—
“(1) each fine assessed by the supervising ethics office pursuant to this section;
“(2) the reason why each such fine was assessed; and
“(3) the result of each assessment.”
Sec. 3 Prohibiting Members of the House of Representatives from owning individual stocks
“(22) Prohibiting members of the house of representatives from owning individual stocks—A Member, Delegate, or Resident Commissioner may not own the common stock of any individual public corporation. The Restore Trust in Congress Act shall apply as if enacted into law.”
Sec. 4 119H4763 Protected Time Off
Sec. 5 Clean energy production credit
“(A) the calendar year in which the Secretary determines that the annual greenhouse gas emissions from the production of electricity in the United States are equal to or less than 25 percent of the annual greenhouse gas emissions from the production of electricity in the United States for calendar year 2022, or
“(B) 2032.”
Sec. 6 Clean electricity investment credit
Sec. 7 119H5554Providing coverage for certain fall prevention items under the Medicare program
“(ooo) Fall prevention items—The term fall prevention items includes grab bars, non-slip mats, shower chairs, bed rails, and such other items or categories of items as the Secretary may specify.”
“(Q) in the case of fall prevention items (as defined in section 1861(ooo)), which are not furnished pursuant to an order of a physician or practitioner (as described in section 1842(b)(18)(C));”
Sec. 8 119H6088Repeal
Sec. 9 119H6651ehTo ensure global peace and security
Sec. 10 119H7435To secure the homeland and protect Americans
“714. Intelligence transparency and oversight program office; Ombuds
“(a) Establishment
“(1) In general—The Secretary shall establish within the Department an Intelligence Transparency and Oversight Program Office (in this section referred to as the “Office”) to carry out the following:
“(A) Review and assess information concerning intelligence activities of the Department, including relating to the timeliness, objectivity, and independence from political considerations of such activities.
“(B) Facilitate departmental decisions regarding making information publicly available in a manner that enhances public understanding of such activities.
“(2) Ombuds—The Office shall be headed by an Ombuds, who shall—
“(A) be a senior, career employee;
“(B) not hold any other position within the Department;
“(C) have a background in—
“(i) intelligence;
“(ii) civil rights enforcement; and
“(iii) addressing matters of intelligence timeliness, objectivity, and politicization;
“(D) report directly to the Under Secretary for Intelligence and Analysis; and
“(E) report directly to Congress with respect to any urgent concerns.
“(b) Duties of the Ombuds—The Ombuds shall have the following duties:
“(1) Serve, in consultation with the Privacy Officer appointed under section 222 and the Officer for Civil Rights and Civil Liberties, as the Department’s principal advisor regarding the following:
“(A) Safeguarding objectivity in intelligence activities of the Department.
“(B) Ensuring such activities are independent from political considerations.
“(2) Remain current and well-informed of issues affecting intelligence activities.
“(3) Promote awareness among intelligence components of the Department of the requirement that all intelligence activities of the Department shall be—
“(A) conducted in a manner consistent with the protection of privacy rights, civil rights, and civil liberties; and
“(B) objective and independent from political considerations.
“(4) Provide, without fear of retaliation, confidential forums to hear and help resolve individual and organizational concerns regarding intelligence activities of the Department, including relating to real or perceived occurrences of civil rights or civil liberties abuses, or politicization of analysis, biased reporting, or lack of objectivity in intelligence collection or analysis.
“(5) Initiate reviews and make recommendations to the heads of the intelligence components of the Department, as appropriate, related to the matters described in paragraph (4).
“(6) Facilitate departmental decisions regarding making information publicly available in a manner that enhances public understanding of the intelligence activities of the Department, while continuing to protect information when disclosure of such information would harm homeland security.
“(7) Ensure that the functions performed by the Ombuds are complementary to existing functions within the Department.
“(c) Coordination with intelligence components of the Department
“(1) In general—The heads of the intelligence components of the Department shall each establish procedures to provide formal responses to recommendations submitted to such officials by the Ombuds pursuant to subsection (b)(5) within 60 days of receiving such recommendations.
“(2) Access to information—The Secretary shall establish procedures to provide the Ombuds access to all departmental information necessary to execute the responsibilities of the Ombuds under this section. The Ombuds may submit to the Secretary a request for such information, and not later than 60 days after receiving such a request, the Secretary shall provide the Ombuds with such information.
“(d) Annual reports—Not later than one year after the enactment of this Act and annually thereafter, the Ombuds shall submit to the Committee on Homeland Security and the Permanent Select Committee on Intelligence of the House of Representatives and the Committee on Homeland Security and Governmental Affairs and the Select Committee on Intelligence of the Senate a report on its activities, findings, and recommendations of the Ombuds over the immediately preceding 12-month period.
“(e) Definition—In this section the term intelligence activity means the collection, gathering, processing, analysis, production, or dissemination of information, including homeland security information, terrorism information, and weapons of mass destruction information.”
Sec. 11 Fiscal year 2027 increase in basic military pay
Sec. 12 Increase in rates of wartime disability compensation
Sec. 13 119H494To protect the government’s critical infrastructure and train a cybersecurity workforce
Sec. 14 119H2865 Prohibition of oil and gas leasing in certain areas of outer Continental Shelf
“(q) Prohibition of oil and gas leasing in certain areas of outer Continental Shelf—Notwithstanding any other provision of this section or any other law, the Secretary may not issue a lease for the exploration, development, or production of oil or natural gas in any area of the outer Continental Shelf off the coast of the State of Maine, New Hampshire, Massachusetts, Rhode Island, or Connecticut.”
Sec. 15 Prohibition on creditors and consumer reporting agencies concerning medical information
Sec. 16 Invest in small businesses
Sec. 17 Appropriations to preserve comprehensive early education for children
Sec. 18 Requirement in President’s budget submission and concurrent budget resolution with respect to cost of living
“(39) an analysis of proposals for the fiscal year for which the budget is submitted to lower the cost of living with respect to healthcare, utilities, groceries, housing, transportation, and postsecondary educational opportunities during such fiscal year.”
“(8) the decrease in the cost of living for the public with respect to healthcare, utilities, groceries, housing, transportation, and postsecondary educational opportunities for the fiscal year of the resolution and for each of the 4 succeeding fiscal years.”