No Foreign Emoluments Without Congressional Consent Act

HR 8485, the "No Foreign Emoluments Without Congressional Consent Act," prohibits senior federal officials - including the President, Vice President, Cabinet members, Members of Congress, and high-level presidential staff - from accepting foreign payments (such as from foreign governments or entities controlled by them) without prior congressional approval. It requires officials to submit detailed written notices to the Office of Government Ethics before accepting such payments, triggering a 90-day congressional review period during which Congress must approve via a specific concurrent resolution. The bill covers payments received during official service and for two years after leaving office, with strict penalties including civil fines up to $5,000 plus the payment's value or criminal charges for violations. Excluded are standard gifts or decorations under existing law and certain large investment entities meeting specific SEC criteria.