No Cashing In Act

The No Cashing In Act requires former Members of Congress to file annual financial disclosure reports for ten years after leaving office or until they stop receiving retirement benefits, whichever takes longer. To prevent conflicts of interest, the bill reduces a former member's government annuity by the amount of income they earn from a "substantial lobbying entity" in the previous year. A substantial lobbying entity is defined as a company with more than three lobbyists or one that spends over $10,000 on lobbying activities annually. This legislation directly affects current and former Members of Congress by extending their financial transparency obligations and linking their retirement pay to their post-congressional lobbying earnings.