Put America on Commission Act of 2026
Summary
The "Put America on Commission Act of 2026" amends the Small Business Act to establish an Office of Whistleblower Awards within the Small Business Administration (SBA). This office aims to incentivize individuals to report financial misconduct or fraudulent misrepresentation related to COVID-19 loan programs. The Act outlines procedures for awarding whistleblowers a percentage of the funds recovered from successful convictions or settlements.
Expected Effects
The Act will create a new mechanism for detecting and prosecuting fraud related to COVID-19 loans. It establishes a fund for whistleblower awards and outlines the process for determining award amounts and eligibility. The new office will also be responsible for tracking the use of whistleblower information and reporting to Congress.
Potential Benefits
- Incentivizes reporting of fraud and financial misconduct related to COVID-19 loans.
- Potentially recovers funds obtained through fraudulent means.
- Enhances transparency and accountability in the SBA's financial assistance programs.
- Provides protection against retaliation for whistleblowers.
- Offers a mechanism for appeals of award determinations.
Potential Disadvantages
- Creates a new government office, potentially increasing administrative costs.
- May lead to an increase in litigation related to COVID-19 loans.
- The determination of "most substantial contribution" among multiple whistleblowers could be subjective and lead to disputes.
- The sunset provision may limit the long-term effectiveness of the office.
- Potential for abuse by individuals seeking financial gain.
Constitutional Alignment
The Act appears to align with the Constitution's Article I, Section 8, which grants Congress the power to make laws necessary and proper for carrying out its enumerated powers, including regulating commerce and providing for the general welfare. The establishment of an office to combat fraud in SBA loan programs falls under this authority. The Act also includes provisions for due process and appeals, aligning with the Fifth Amendment.
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).