The Prohibit Pentagon Profiteering Act would strengthen rules preventing Pentagon officials from owning or trading stocks in defense contractors. Currently, the law restricts stock ownership only for officials involved with the ten largest defense contractors by contract spending in any given year. This bill would expand the restriction to cover any defense contractor that received more than one billion dollars in Department of Defense revenue during the preceding calendar year, potentially capturing many more companies. The legislation affects Pentagon officials who might have financial conflicts of interest and aims to prevent them from profiting personally while making decisions that benefit those same contractors. The bill contains no new funding and would take effect upon passage by establishing a more objective financial threshold for determining which contractors fall under the stock ownership ban.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.