# 116-hr-7526: Stop Foreign Payoffs Act

116-hr-7526, Stop Foreign Payoffs Act, is a 116th Congress bill sponsored by Rep. Golden, Jared F. [D-ME-2] (D-ME); status Referred to the Committee on Oversight and Reform, 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. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/116-hr-7526
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 116-hr-7526
- Congress: 116
- Title: Stop Foreign Payoffs Act
- Status: Referred to the Committee on Oversight and Reform, 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.
- Introduced: 2020-07-09
- Sponsor: Rep. Golden, Jared F. [D-ME-2] (D-ME)
- Cosponsors: 0
- Policy area: Government Operations and Politics
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

Stop Foreign Payoffs Act This bill prohibits certain government officials and their family members from holding foreign financial interests and also requires divestiture of any such interests in a prescribed manner and time frame. Specifically, the bill prohibits the President, cabinet officials, and Members of Congress from holding any financial interest in, or receiving payment from, a foreign business. Such individuals must divest any such interest by either converting the interest into cash or another investment, or by placing the interest in a qualified blind trust or diversified trust; divestiture must occur no later than 30 days after either the issuance of implementing regulations or after the individual takes office. The bill's requirements apply to the spouses, children, sons-in-law, and daughters-in-law of such individuals.

## Related bills

- 116-hr-8662: Accelerating Access to Critical Therapies for ALS Act
- 116-hr-8631: Responsible Ownership of Firearms Act of 2020
- 116-hr-8537: To direct the Administrator of the Small Business Administration to modify any caps on emergency EIDL advances to certain veterans service organizations, and f…
- 116-hr-8305: FAITH in Congress Act
- 116-hr-8237: Protecting the Employment Rights of Servicemembers Act
- 116-hr-8207: Justice for Ser­vice­mem­bers Act of 2020

## Sources
- [116-hr-7526 on Congress.gov](https://www.congress.gov/bill/116th-congress/house-bill/7526)

## Related
- [116-hr-8662: Accelerating Access to Critical Therapies for ALS Act](https://policyrisk.com/legislation/116-hr-8662)
- [116-hr-8631: Responsible Ownership of Firearms Act of 2020](https://policyrisk.com/legislation/116-hr-8631)
- [116-hr-8537: To direct the Administrator of the Small Business Administration to modify any…](https://policyrisk.com/legislation/116-hr-8537)
- [116-hr-8305: FAITH in Congress Act](https://policyrisk.com/legislation/116-hr-8305)
- [116-hr-8237: Protecting the Employment Rights of Servicemembers Act](https://policyrisk.com/legislation/116-hr-8237)
- [116-hr-8207: Justice for Ser­vice­mem­bers Act of 2020](https://policyrisk.com/legislation/116-hr-8207)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/116-hr-7526 (as of 2025-11-18).