The Senate Homeland Security and Governmental Affairs Committee approved the Royalty Transparency Act in a 13-0 vote on Wednesday. 

The bill was introduced by Sens. Rand Paul (R-KY) and Rick Scott (R-FL). It requires government employees and advisory committee members to acknowledge any royalty payments they may receive during their work. It is part of a process that will help increase government transparency and accountability efforts, according to a press release.

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“Under current law, federal employees are not required to report the source or amount of royalty payments they receive for their government-related work,” read the release. “This lack of transparency prevents taxpayers from holding individuals accountable within the federal government for conflicts of interest and other abuse.” 

Paul has long called for more government transparency. He claimed the proposed legislation was vital because it would help ensure that “public policy isn’t influenced by personal gain.”

“The Royalty Transparency Act will allow more information to be seen by the public to ensure federal decision makers, and the policies they write, aren’t being influenced by the royalty payments they receive,” said Paul.

Scott also shared his views on the bill, describing why it is a vital piece of legislation.

“I am proud to support the Royalty Transparency Act, ensuring federal employees’ transparency and accountability to the American people,” said Scott. “Under current law, bureaucrats like Anthony Fauci and NIH employees were able to receive millions in royalty payments from companies outside the federal government without requirements for reporting, raising serious questions about potential conflicts of interest and fueling distrust in the federal government.”

“Our bill will bring much-needed transparency to these payments by requiring they be publicly reported, helping to hold bureaucrats accountable to the American people and restoring trust in the federal government,” Scott added. 

Rep. Morgan Griffith (R-VA) sponsored a House version of the bill and introduced it in March. Since then, he’s been working with Paul and Scott to ensure the bill passes in both the Senate and the House. 

“For too long, federal bureaucrats concealed the royalties they received, who they were paid by, what they were compensated for, and how much they were paid,” said Griffith.  “As the Trump Administration ushers in a new era of transparency in our federal government, the Royalty Transparency Act will foster greater government transparency and accountability by requiring government officials in federal agencies to disclose the royalties that they receive as a result of their government service.” 

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If passed, the legislation would require the head of each agency conducting business interests on behalf of the U.S. to submit a report “no later than 60 days after the date of enactment of the Royalty Transparency Act, and each year thereafter,” to “the Select Committee on Intelligence of the Senate and the Permanent Select Committee on Intelligence of the House of Representatives” a report providing the financial disclosures of all employees “under the jurisdiction of such agency for the preceding fiscal year.”

“I am excited to work with Senator Paul so we can shine a light on these royalties and hold federal bureaucrats to a greater standard of accountability,” Griffith added.