Sponsors (2)
The bill increases transparency and curbs the revolving door—potentially lowering taxpayer pension costs—at the expense of longer post‑service reporting, reduced retirement income and career options for some former Members, and higher administrative oversight costs.
Taxpayers and the public gain stronger oversight because former Members must file annual post‑service disclosure reports for at least ten years and the bill clarifies key definitions (e.g., lobbyist, substantial lobbying entity), improving enforceability of ethics and pension rules.
Taxpayers may see reduced federal annuity costs because the bill ties certain post‑service lobbying income to annuity reductions, lowering government pension outlays when former Members earn from large lobbying firms.
Former Members of Congress face reduced incentive to enter major lobbying roles because the bill links such paid positions to annuity reductions, discouraging the 'revolving door' between public office and powerful lobbying entities.
Current and former Members who take legitimate post‑public‑sector jobs with firms that meet the lobbying thresholds will have reduced retirement incomes because those earnings can trigger annuity reductions.
Potential candidates and current Members may be deterred from public service because longer (10+ year) post‑service disclosure obligations and ongoing financial scrutiny increase long‑term administrative and personal burdens.
Companies that employ more than three lobbyists or spend over $10,000 on lobbying may avoid hiring former Members or structure contracts to evade reporting, reducing job opportunities for those former officials and shifting hiring practices.
Based on analysis of 2 sections of legislative text.
Extends financial disclosure for former Members to 10 years and reduces federal annuities by prior-year income earned from sizeable lobbying employers.
Official title: To require former Members of Congress to file annual financial disclosure reports, and for other purposes.
Introduced June 30, 2026 by Chris Pappas · Last progress June 30, 2026
Requires former Members of Congress to keep filing annual financial disclosure reports for ten years after leaving office (or for as long as they receive a federal annuity). It also reduces a former Member's federal annuity by the amount they were paid the prior year for services to a "substantial lobbying entity." The bill defines "lobbyist" by existing Lobbying Disclosure Act law and sets a threshold for "substantial lobbying entity" as an employer that uses more than three lobbyists or spends over $10,000 on lobbying in a year. The measure aims to limit the financial benefit a former Member receives from working for major lobbying interests while extending post-service disclosure to increase transparency about outside earnings tied to lobbying organizations.