TRACE Act

2020-06-22

Introduced in Senate

Transparency Requirements Aimed at Congressional Expenditures Act or the TRACE Act

This bill requires a Member of Congress, spouse of a Member, or employee of Congress to submit a financial disclosure if a business that they own or control receives a loan under the Paycheck Protection Program for small businesses affected by COVID-19 (i.e., coronavirus disease 2019). The disclosure must include the name and address of the recipient's place of business and the amount of the loan.

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