H.R. 5359: No Bribes for Politicians Act of 2025

This proposed bill, known as the No Bribes for Politicians Act of 2025, aims to amend Title 5 of the United States Code with several key changes regarding financial disclosures and business activities of federal officials, specifically focusing on the President, Vice President, and their immediate relatives.

Prohibition on Gifts in Presidential Duties

The bill includes a provision that prohibits any federal employee from using gifts of more than minimal value that are intended for official use in connection with presidential duties. If such a gift is deposited with an agency, it must not be used and must be disposed of according to agency regulations.

Biannual Financial Disclosure Requirement

It establishes an obligation for certain federal officials to file financial disclosure reports biannually. Individuals who are officers or employees must report their financial information twice a year if they serve in their positions for more than 60 days within each six-month reporting period. The first report would be due by October 15 each year, covering the first half of the year, while the second report would need to be submitted by May 15 of the following year, covering the second half of the year.

Expanded Financial Disclosure to Relatives

The bill extends financial disclosure requirements to include the relatives of the President, Vice President, and cabinet members. Reports must detail the financial information of these relatives, which includes a wide range of family members, such as parents, siblings, children, and in-laws.

Prohibitions on Presidential Business Activity

Significantly, the bill prohibits both the President and Vice President from holding financial interests in any for-profit entity. They are required to divest such interests within 30 days of assuming office. Furthermore, it disallows the President and Vice President, as well as their spouses and dependent children, from using their name or likeness for profit or allowing others to do so in any business context. They are also restricted from holding decision-making positions within any for-profit entity during their term.

Exclusions and Civil Penalties

This prohibition does not apply to financial interests held in retirement accounts, such as government employee retirement plans. The bill includes provisions for civil penalties for violations related to these financial disclosures and business activity prohibitions.

Relevant Companies

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