WASHINGTON, D.C. – Stakeholders and organizations are applauding U.S. Senator Rand Paul (R-KY), Ranking Member of the Senate Homeland Security and Governmental Affairs Committee, for advancing his legislation, S. 3664 the Royalty Transparency Act of 2024, out of committee on a bipartisan vote of 12-0. The bill increases transparency on royalty payments paid to Executive Branch officials and makes the financial disclosure forms public for federal advisory committee members such as the Advisory Committee on Immunization Practices. Under current law, federal employees are not required to publicly disclose the source or amount of royalty payments received in service of their official duties. Additionally, the financial disclosures of members of federal advisory committees are not available to the public, despite the fact that these committees make recommendations to federal agencies that have a significant impact on the day-to-day lives of Americans. This lack of transparency prevents taxpayers from holding individuals accountable within the federal government for conflicts of interest and other abuse.
See below for statements of support for the Royalty Transparency Act of 2024:
“During the pandemic, the American people started to think that Big Government was very close to Big Pharma. We now know that hundreds of millions of dollars flowed from the industry and enriched 2,400 scientists and key directors at the National Institutes of Health over the past decade – including those involved in vaccine development. But we still don’t know all the details because NIH continues to stonewall and force us into expensive federal litigation. Dr. Paul’s legislation is vital to open the books on the culture of secrecy so the American people can finally follow the money.” – Adam Andrzejewski, CEO of Open the Books.
“Senator Paul’s Royalty Transparency Act of 2024 crucially fills a longstanding oversight gap by requiring federal employees to disclose royalty payments for inventions made during their service, directly addressing potential conflicts of interest and enhancing public trust in government decision-making. This significant legislation, extending disclosure requirements to advisory committee members, broadens transparency and accountability, marking a vital advancement towards a government that operates with the utmost integrity and openness.” – George Landrith, President of Frontiers of Freedom Foundation.
“Taxpayers should have the right to know how much government employees are making, especially when the compensation presents potential conflicts of interest. Secret royalty payments violate this principle of transparency and conceal potential corruption. Congress should pass Senator Rand Paul’s Royalty Act to solve this problem.” – Phil Kerpen, President of American Commitment and Committee to Unleash Prosperity.
“For too long, unelected, career bureaucrats have skirted financial disclosure requirements and used their positions of power in government for self-enrichment. The Royalty Transparency Act of 2024 will give Congress and the American people much-needed oversight over federal employees’ financial transactions and ensure that corrupt DC Cartel actors are held accountable.”– Wade Miller, Executive Director, Citizens for Renewing America.
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