Tax Transparency Act of 2021
This bill requires the President, the Vice President, Members of Congress, and candidates for such offices to publicly disclose their individual tax returns for the previous seven years.
[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 664 Introduced in House (IH)]
<DOC>
117th CONGRESS
1st Session
H. R. 664
To amend the Internal Revenue Code of 1986 to require public disclosure
of individual tax returns of the President, the Vice President, and
Members of Congress, and candidates for such offices.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
February 1, 2021
Mr. Posey introduced the following bill; which was referred to the
Committee on Ways and Means
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to require public disclosure
of individual tax returns of the President, the Vice President, and
Members of Congress, and candidates for such offices.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Tax Transparency Act of 2021''.
SEC. 2. DISCLOSURE OF RETURNS AND RETURN INFORMATION OF CANDIDATES FOR
PRESIDENT, VICE PRESIDENT, OR CONGRESS.
(a) In General.--Subsection (k) of section 6103 of the Internal
Revenue Code of 1986 is amended by adding at the end the following new
paragraph:
``(16) Disclosure of returns and return information of
candidates for president, vice president, or congress.--
``(A) In general.--The Secretary shall disclose and
make publicly available returns and return information
of--
``(i) any candidate who designates a
principal campaign committee under section
302(e)(1) of the Federal Election Campaign Act
of 1971 or, in the case of a candidate for the
office of Vice President, any candidate for
such office under such Act, and
``(ii) any individual who, on April 15th of
a calendar year, is the President, the Vice
President, or a Member of Congress.
``(B) Exceptions.--The information disclosed under
subparagraph (A) shall not include any Social Security
number, any financial account number, the name of any
individual under age 18, or any home address of any
individual (other than the city and State in which such
address is located).
``(C) Timing.--The Secretary shall make the
disclosure required by paragraph (A)--
``(i) in the case of a candidate described
in clause (i) of such paragraph, not later than
the later of--
``(I) the date that is 15 days
after the designation described in such
clause (or in the case of a candidate
for the office of Vice President, 15
days after such individual becomes such
a candidate), or
``(II) the date that is 15 days
after the date of the enactment of this
paragraph, and
``(ii) in the case of an individual
described in clause (ii) of such paragraph, not
later than April 30th of the year described in
such clause.
``(D) Scope.--The returns and return information
disclosed under subparagraph (A) shall include any
return filed during the 7-year period ending on--
``(i) in the case of a candidate described
in paragraph (A)(i), the date of the
designation described in such clause (or in the
case of a candidate for the office of Vice
President, the day such individual becomes such
a candidate), and
``(ii) in the case of an individual
described in paragraph (A)(ii), April 15th of
the year described in such clause.''.
(b) Effective Date.--The amendment made by this section shall apply
to individuals who are candidates on, and to individuals holding office
on, dates after the date of the enactment of this Act.
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Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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