A bill to amend the Small Business Act to require Members of Congress, spouses of Members of Congress, and employees of Congress who receive a loan under the paycheck protection program to submit a financial disclosure form.
About This Bill
Committee
Latest Action · June 22, 2020
Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Transparency Requirements Aimed at Congressional Expenditures Act or the TRACE Act
This bill requires a Member of Congress, spouse of a Member, or employee of Congress to submit a financial disclosure if a business that they own or control receives a loan under the Paycheck Protection Program for small businesses affected by COVID-19 (i.e., coronavirus disease 2019). The disclosure must include the name and address of the recipient's place of business and the amount of the loan.
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