Rep. Young Kim (R., Calif.) is rolling out bipartisan legislation, obtained by the Washington Reporter, that addresses a concern that members of both parties increasingly have about Washington, D.C.: that politicians are using their positions of power to enrich themselves.
Kim’s latest bill, the Stop Congressional Self-Enrichment Resolution, prevents members of Congress from enriching themselves via earmarks. Kim argues that her legislation is necessary because the current statute is insufficient.
While members of Congress currently have to certify that neither they nor their spouses have direct financial interests in earmarks that the member requests, they do not have to account for indirect financial interests that they might have. This creates a loophole, Kim argues, where earmarks could increase the value of a business asset owned by a member or their family because of its proximity to the project, for example.
If the Kim-led legislation becomes law, members of Congress would no longer be able to street earmarks to nonprofits that their spouses are on the board of, for example — Kim argues that that is an example of an indirect benefit allowed under the current law.
Reps. Jared Golden (D., Maine) and Brian Fitzpatrick (R., Pa.) are rolling out the legislation alongside Kim.
The Reporter has previously covered bipartisan legislation from Kim that quickly wins praise from industry experts and voters alike. Her Payments Access and Consumer Efficiency (PACE) Act, which she coauthored with Rep. Sam Liccardo (D., Calif.) is one that won immediate praise for being first-of its kind legislation that modernizes how payment companies access payment rails.
