Kleptocracy Asset Recovery Rewards Program Act
Summary
The Kleptocracy Asset Recovery Rewards Program Act aims to extend the existing Kleptocracy Asset Recovery Rewards Pilot Program. This extension involves removing the 'pilot' designation and prolonging the program's lifespan. The bill seeks to enhance the recovery of assets linked to foreign corruption.
Expected Effects
The primary effect will be the continuation of the Kleptocracy Asset Recovery Rewards Program for an additional four years. This allows the government to continue offering rewards for information leading to the recovery of assets linked to foreign corruption. The program will now have a seven-year lifespan from the date of the original act's enactment.
Potential Benefits
- Continued incentives for individuals to report information on foreign corruption.
- Potential recovery of assets that could be used to benefit the public.
- Reinforcement of the U.S.'s commitment to combating international corruption.
- Enhanced international standing through demonstrated efforts to recover illicit assets.
- Provides resources to combat kleptocracy.
Potential Disadvantages
- Potential for misuse of the reward system.
- Administrative costs associated with managing the program.
- Risk of false or misleading information being submitted.
- Limited direct impact on domestic issues.
- Could strain diplomatic relations in certain cases.
Constitutional Alignment
The Act aligns with the Constitution by promoting the general welfare through combating international corruption and recovering assets. Congress's power to enact such legislation falls under its implied powers to conduct foreign affairs and enforce laws necessary and proper for carrying out its enumerated powers as described in Article I, Section 8.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).