I 

117TH CONGRESS 

1ST SESSION H. R. 347 

To amend the Internal Revenue Code of 1986 to require the disclosure 

of tax returns of Presidents and Vice Presidents and certain candidates 

for President and Vice President, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

JANUARY 19, 2021 

Ms. ESHOO (for herself and Mr. PASCRELL) introduced the following bill; 

which was referred to the Committee on Ways and Means, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such 

provisions as fall within the jurisdiction of the committee concerned 

A BILL 

To amend the Internal Revenue Code of 1986 to require 

the disclosure of tax returns of Presidents and Vice 

Presidents and certain candidates for President and Vice 

President, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Presidential Tax 

5 Transparency Act’’. 


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1 SEC. 2. PRESIDENTIAL AND VICE PRESIDENTIAL TAX 

2 TRANSPARENCY. 

3 (a) DEFINITIONS.—In this section— 

4 (1) The term ‘‘covered candidate’’ means a can5 didate of a major party in a general election for the 

6 office of President or Vice President. 

7 (2) The term ‘‘major party’’ has the meaning 

8 given the term in section 9002 of the Internal Rev9 enue Code of 1986. 

10 (3) The term ‘‘income tax return’’ means, with 

11 respect to an individual, any return (as such term is 

12 defined in section 6103(b)(1) of the Internal Rev13 enue Code of 1986, except that such term shall not 

14 include declarations of estimated tax) of— 

15 (A) such individual, other than information 

16 returns issued to persons other than such indi17 vidual; or 

18 (B) of any corporation, partnership, or 

19 trust in which such individual holds, directly or 

20 indirectly, a significant interest as the sole or 

21 principal owner or the sole or principal bene22 ficial owner (as such terms are defined in regu23 lations prescribed by the Secretary of the 

24 Treasury or his delegate). 

25 (4) The term ‘‘Secretary’’ means the Secretary 

26 of the Treasury or the delegate of the Secretary. 


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1 (b) DISCLOSURE.— 

2 (1) IN GENERAL.— 

3 (A) CANDIDATES FOR PRESIDENT AND

4 VICE PRESIDENT.—Not later than the date that 

5 is 15 days after the date on which an individual 

6 becomes a covered candidate, the individual 

7 shall submit to the Federal Election Commis8 sion a copy of the individual’s income tax re9 turns for the 10 most recent taxable years for 

10 which a return has been filed with the Internal 

11 Revenue Service. 

12 (B) PRESIDENT AND VICE PRESIDENT.— 

13 With respect to an individual who is the Presi14 dent or Vice President, not later than the due 

15 date for the return of tax for each taxable year, 

16 such individual shall submit to the Federal 

17 Election Commission a copy of the individual’s 

18 income tax returns for the taxable year and for 

19 the 9 preceding taxable years. 

20 (C) TRANSITION RULE FOR SITTING PRESI21 DENTS AND VICE PRESIDENTS.—Not later than 

22 the date that is 30 days after the date of enact23 ment of this section, an individual who is the 

24 President or Vice President on such date of en25 actment shall submit to the Federal Election 


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1 Commission a copy of the income tax returns 

2 for the 10 most recent taxable years for which 

3 a return has been filed with the Internal Rev4 enue Service. 

5 (2) FAILURE TO DISCLOSE.—If any require6 ment under paragraph (1) to submit an income tax 

7 return is not met, the chairman of the Federal Elec8 tion Commission shall submit to the Secretary a 

9 written request that the Secretary provide the Fed10 eral Election Commission with the income tax re11 turn. 

12 (3) PUBLICLY AVAILABLE.—The chairman of 

13 the Federal Election Commission shall make publicly 

14 available each income tax return submitted under 

15 paragraph (1) in the same manner as a return pro16 vided under section 6103(l)(23) of the Internal Rev17 enue Code of 1986 (as added by this section). 

18 (4) TREATMENT AS A REPORT UNDER THE

19 FEDERAL ELECTION CAMPAIGN ACT OF 1971.—For 

20 purposes of the Federal Election Campaign Act of 

21 1971, any income tax return submitted under para22 graph (1) or provided under section 6103(l)(23) of 

23 the Internal Revenue Code of 1986 (as added by 

24 this section) shall, after redaction under paragraph 

25 (3) or subparagraph (B)(ii) of such section, be treatVerDate Sep 11 2014 01:50 Feb 07, 2021 Jkt 019200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\H347.IH H347

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1 ed as a report filed under the Federal Election Cam2 paign Act of 1971. 

3 (c) DISCLOSURE OF RETURNS OF PRESIDENTS AND

4 VICE PRESIDENTS AND CERTAIN CANDIDATES FOR

5 PRESIDENT AND VICE PRESIDENT.— 

6 (1) IN GENERAL.—Section 6103(l) of the Inter7 nal Revenue Code of 1986 is amended by adding at 

8 the end the following new paragraph: 

9 ‘‘(23) DISCLOSURE OF RETURN INFORMATION

10 OF PRESIDENTS AND VICE PRESIDENTS AND CER11 TAIN CANDIDATES FOR PRESIDENT AND VICE PRESI12 DENT.— 

13 ‘‘(A) IN GENERAL.—Upon written request 

14 by the chairman of the Federal Election Com15 mission under section 2(b)(2) of the Presi16 dential Tax Transparency Act, not later than 

17 the date that is 15 days after the date of such 

18 request, the Secretary shall provide copies of 

19 any return which is so requested to officers and 

20 employees of the Federal Election Commission 

21 whose official duties include disclosure or redac22 tion of such return under this paragraph. 

23 ‘‘(B) DISCLOSURE TO THE PUBLIC.— 

24 ‘‘(i) IN GENERAL.—The chairman of 

25 the Federal Election Commission shall 


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1 make publicly available any return which is 

2 provided under subparagraph (A). 

3 ‘‘(ii) REDACTION OF CERTAIN INFOR4 MATION.—Before making publicly available 

5 under clause (i) any return, the chairman 

6 of the Federal Election Commission shall 

7 redact such information as the Federal 

8 Election Commission and the Secretary 

9 jointly determine is necessary for pro10 tecting against identity theft, such as so11 cial security numbers.’’. 

12 (2) CONFORMING AMENDMENTS.—Section 

13 6103(p)(4) of such Code is amended— 

14 (A) in the matter preceding subparagraph 

15 (A) by striking ‘‘or (22)’’ and inserting ‘‘(22), 

16 or (23)’’; and 

17 (B) in subparagraph (F)(ii) by striking ‘‘or 

18 (22),’’ and inserting ‘‘(22), or (23)’’. 

19 (3) EFFECTIVE DATE.—The amendments made 

20 by this subsection shall apply to disclosures made on 

21 or after the date of enactment of this Act. 

Æ 


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