# Presidential Tax Transparency Act

This bill would require sitting Presidents and Vice Presidents, as well as major party candidates running for these offices, to publicly disclose their tax returns. Specifically, candidates would need to submit their tax returns from the past ten years to the Federal Election Commission within 15 days of becoming an official candidate. If someone is already serving as President or Vice President when this law takes effect, they'd have 30 days to submit their past ten years of returns. After that, sitting Presidents and Vice Presidents would need to submit their returns annually, along with the previous nine years of filings.

The bill defines "income tax return" broadly to include not just a person's individual tax forms, but also returns from any business, partnership, or trust where that person is the main owner or beneficiary. This means the public could see financial information about companies and investments connected to these officials. The Federal Election Commission would then make these returns publicly available online, though they would redact certain sensitive information like Social Security numbers to prevent identity theft.

If a candidate or sitting official refuses to voluntarily submit their returns, the Federal Election Commission can request them directly from the Treasury Department, which would have 15 days to provide them. The bill treats these tax disclosures as official campaign reports under federal election law. Essentially, this legislation aims to give voters access to the same financial information about presidential candidates and sitting presidents that they might expect from other public officials, allowing citizens to see potential conflicts of interest, income sources, and tax obligations before voting.

Presidential Tax Transparency Act

Eshoo, Anna G.

Presidential Tax Transparency Act This bill requires the President, the Vice President, and certain candidates for President and Vice President to disclose federal income tax returns for the ten most recent taxable years. The returns must be disclosed to the Federal Election Commission (FEC), which must make the returns publicly available after redacting information that is necessary for protecting against identity theft, such as Social Security numbers. If the tax returns are not disclosed to the FEC as required by this bill, the Internal Revenue Service must provide the returns to the FEC upon receiving a written request from the FEC.