James Comer teams up with Katie Porter on bipartisan presidential ethics bill

House Oversight Committee Chairman James Comer (R-KY) and Rep. Katie Porter (D-CA) are pairing up in a rare moment of bipartisanship to introduce legislation that seeks to prevent presidential candidates from “profiting from their proximity to power.”

The Presidential Ethics Reform Act would require presidents and vice presidents to disclose foreign payments, loan transactions, and tax returns during the two-year period prior to their time in office, during their time in office, and during the two-year period following their term. They also would have to disclose gifts valued at more than $10,000 from or by immediate family members, according to the bill.

The executives must also disclose family members who receive foreign payments, expensive gifts, and loans. Presidents and vice presidents would also need to note when immediate family members accompanied them on official travel, and specify when it is done for business purposes.

The legislation comes as Comer and House Republicans lead an impeachment inquiry into President Joe Biden, accusing him of an “alleged criminal scheme” that allowed him to financially benefit from his family’s foreign business dealings.