Sponsors (4)
The bill improves transparency and consistency in large-value federal financial reporting—helping oversight and reducing errors—but increases administrative costs and may create fairness, privacy, and competitive concerns for some filers and contractors.
Federal agencies, ethics offices, taxpayers, and federal employees will get clearer, standardized, fine-grained reporting brackets for large-value financial disclosures, improving transparency, oversight, and reducing ambiguity and compliance errors.
Federal employees who file disclosures will know exactly which reports the new requirements apply to (only reports due on or after enactment), reducing retroactive obligations and uncertainty about applicability.
Federal agencies and taxpayers may face increased administrative and IT costs to update reporting systems and processes to handle finer-grained brackets.
Federal employees with large investment income may face stricter categorization that triggers additional disclosure, recusal, or other ethics obligations, affecting their privacy and professional flexibility.
Filers who submitted reports just before enactment will remain under the old rules, creating a two-tier disclosure regime that may cause inconsistency, perceived unfairness, and extra compliance complexity.
Based on analysis of 4 sections of legislative text.
Revises and expands the monetary reporting brackets used on federal public financial disclosure forms, adding several new high-value ranges.
Introduced February 11, 2026 by Adam Schiff · Last progress February 11, 2026
Revises the dollar-range categories used on federal public financial disclosure reports to add multiple new, higher-value brackets for reporting income, dividends, rents, interest, capital gains, and asset/value amounts. The changes only alter the categorical ranges agencies use when reporting and apply to reports required to be filed on or after the law's enactment; there is no new reporting obligation, no appropriations, and no retroactive effect on previously filed reports.