Illegal Red Snapper and Tuna Enforcement Act

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Bill ID: 119/s/283
Last Updated: September 15, 2026

Sponsored by

Sen. Cruz, Ted [R-TX]

ID: C001098

Follow the money

The bill

Illegal Red Snapper and Tuna Enforcement Act

S. 283, 119th Congress — read as touching Agribusiness.

The sponsor

Sen. Cruz, Ted [R-TX]

Every bill has someone who introduced it. That name is where the paper trail starts.

The money

$1,525,021 raised

30 itemised contributions to this sponsor, pulled from FEC filings.

The alignment

55% match to Project 2025

This bill's text tracks the "Environmental Protection Agency" section, p. 467-469 of the Mandate for Leadership.

Bill's Journey to Becoming a Law

Track this bill's progress through the legislative process

Latest Action

Message on House action received in Senate and at desk: House amendment to Senate bill.

September 14, 2026

Introduced

Committee Review

Floor Action

Passed Senate

House Review

📍 Current Status

Next: Both chambers must agree on the same version of the bill.

🎉

Passed Congress

🖊️

Presidential Action

⚖️

Became Law

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1. Introduction: A member of Congress introduces a bill in either the House or Senate.

2. Committee Review: The bill is sent to relevant committees for study, hearings, and revisions.

3. Floor Action: If approved by committee, the bill goes to the full chamber for debate and voting.

4. Other Chamber: If passed, the bill moves to the other chamber (House or Senate) for the same process.

5. Conference: If both chambers pass different versions, a conference committee reconciles the differences.

6. Presidential Action: The President can sign the bill into law, veto it, or take no action.

7. Became Law: If signed (or if Congress overrides a veto), the bill becomes law!

Bill Summary

**Bill S. 283: Illegal Red Snapper and Tuna Enforcement Act** *Or: How to Spend Two Years and Millions to Figure Out Where Your Sushi Came From*

**1. New Regulations Being Created or Modified** This bill mandates that the Under Secretary of Commerce for Standards and Technology (yes, that’s a real title) and the NOAA Administrator jointly develop a *standard methodology* for identifying the country of origin of seafood using chemical analysis. Think of it as a forensic seafood paternity test—except instead of determining who knocked up the mermaid, it’s trying to prove whether your tuna sandwich came from a legal fishery in Ecuador or a poaching operation off Somalia. The methodology must be field-deployable, fast, and usable on prepared foods like sushi and ceviche—because apparently, customs agents now need to be part chemist, part sushi chef.

**2. Affected Industries and Sectors** - **Seafood importers and distributors**: Suddenly on the hook for proving provenance of red snapper and tuna—species notoriously prone to fraud and laundering. - **Restaurants and retailers**: Especially those serving raw fish. Your poke bowl just became a potential evidence exhibit. - **U.S. Customs and Border Protection, Coast Guard**: Now expected to carry seafood test kits alongside narcotics scanners. - **State law enforcement**: Because nothing says “federal overreach” like deputizing local health inspectors to run isotopic analysis on your spicy tuna roll. - **Taxpayers**: Funding a two-year pilot study to determine if we can chemically distinguish Fijian yellowfin from Indonesian yellowfin. Spoiler: we probably can, but it’ll cost more than the fish is worth.

**3. Compliance Requirements and Timelines** - **Within 2 years of enactment**: The Under Secretary must submit a report to Congress detailing the methodology, a plan for operationalizing it, and excuses if it doesn’t work. - **No direct compliance burden on industry yet**—this is just the *research phase*. But make no mistake: once the methodology is “validated,” expect mandatory testing, certification schemes, and fines for mislabeled seafood to follow faster than a dolphin chasing a tuna boat. - **Pilot studies required**: On red snapper (sedentary, easy to frame) and tuna (highly migratory, impossible to track)—because why not test the hardest case first?

**4. Enforcement Mechanisms and Penalties** The bill itself doesn’t impose penalties—it’s a *methodology development* bill. But let’s be real: this is Phase One of a seafood origin enforcement regime. Once the test kit exists, expect: - Civil penalties under existing IUU fishing and seafood fraud statutes (like the Magnuson-Stevens Act or Lacey Act). - Border seizures, import bans, and public shaming via FDA warning letters. - Criminal charges for repeat offenders—because nothing deters crime like threatening a seafood importer with felony charges over a mislabeled snapper.

**5. Economic and Operational Impacts** - **Cost to develop**: Millions in R&D for a niche analytical method that may never be cost-effective at scale. - **Operational burden**: Imagine every shipment of tuna needing a field test—delays, training, false positives from fish that swam too close to a volcanic vent. - **Economic impact on honest actors**: Small importers will drown in compliance costs; big players will absorb it and use it to crush competition. - **Fraud reduction?** Possibly. But more likely, it just drives fraud underground or shifts it to species not yet covered (looking at you, escolar masquerading as white tuna). - **Ultimate irony**: We’re spending federal resources to build a high-tech lie detector for fish while ignoring that the real problem isn’t *where* the fish was caught—it’s that we *don’t care enough* to stop subsidizing overfishing or punish the flags of convenience enabling IUU fishing in the first place.

**Diagnosis

Related Topics

Wildlife & Endangered SpeciesResearch & Innovation PolicyTaxation & IRS Regulations
Generated using Llama 3.1 70B (Dr. Haus personality)

💰 Campaign Finance Network

Sen. Cruz, Ted [R-TX]

Congress 119 • 2024 Election Cycle

Total Contributions
$1,525,021
23 donors
PACs
$1,497,892
Organizations
$27,129
Committees
$0
Individuals
$0
1
WINRED
2 transactions
$1,497,892
1
FASKEN MANAGEMENT
1 transaction
$10,000
2
REPUBLICAN PARTY OF HARRISON COUNTY
1 transaction
$4,000
3
FOLAD ENTERPRISES LLC
1 transaction
$2,000
4
JOHNSEY
7 transactions
$1,854
5
BALCH & BINGHAM LLP
1 transaction
$1,000
6
PARTNERS HOTEL GROUP LLC
1 transaction
$1,000
7
KHAT INVESTMENS LLC
1 transaction
$1,000
8
PJB INVESTMENT ADVISORS LLC
1 transaction
$800
9
GRANT MORELAND LP LLC
1 transaction
$750
10
BL PARTNERS GROUP LLC
1 transaction
$750
11
MILLE'S LLC
1 transaction
$500
12
HARRY M BETTIS JR LLC
1 transaction
$500
13
ROBDON L.P.
1 transaction
$500
14
JAMES E. JOHNSON LLC
1 transaction
$500
15
FALSE RIVER VIEW LLC
1 transaction
$500
16
MURDOCK PROPERTIES LLC
1 transaction
$325
17
RESEDA HOLDINGS LLC
1 transaction
$250
18
DIXON RENTAL PROPERTIES LLC
1 transaction
$250
19
ROGERS LIVESTOCK LLC
1 transaction
$250
20
MISRASI CONCRETE LLC
1 transaction
$200
21
JOUETT LLC
1 transaction
$100
22
FORCE CONSTRUCTION OF LA LLC
1 transaction
$100

No committee contributions found

No individual contributions found

Cosponsors & Their Campaign Finance

This bill has 4 cosponsors. Below are their top campaign contributors.

Sen. Schatz, Brian [D-HI]

ID: S001194

Top Contributors

44

1
CHEROKEE NATION
OrganizationTAHLEQUAH, OK
$3,300
Dec 30, 2024
2
CATAWBA INDIAN NATION
OrganizationROCK HILL, SC
$3,300
May 17, 2024
3
SENECA NATION OF INDIANS
OrganizationSALAMANCA, NY
$3,300
Apr 17, 2024
4
OTOE MISSOURIA TRIBE OF OKLAHOMA
OrganizationRED ROCK, OK
$3,300
Aug 12, 2023
5
PASCUA YAQUI TRIBE
OrganizationTUCSON, AZ
$3,300
Sep 29, 2023
6
OTOE MISSOURIA TRIBE OF OKLAHOMA
OrganizationRED ROCK, OK
$3,300
Aug 12, 2023
7
HABEMATOLEL POMO OF UPPER LAKE
OrganizationUPPER LAKE, CA
$3,300
Aug 12, 2023
8
HABEMATOLEL POMO OF UPPER LAKE
OrganizationUPPER LAKE, CA
$3,300
Aug 12, 2023
9
TURTLE MOUNTAIN BAND OF CHIPPEWA
OrganizationBELCOURT, ND
$3,300
Aug 12, 2023
10
TURTLE MOUNTAIN BAND OF CHIPPEWA
OrganizationBELCOURT, ND
$3,300
Aug 12, 2023

Sen. Britt, Katie Boyd [R-AL]

ID: B001319

Top Contributors

26

1
POARCH BAND OF CREEK INDIANS
OrganizationATMORE, AL
$3,300
Sep 14, 2023
2
POARCH BAND OF CREEK INDIANS
OrganizationATMORE, AL
$3,300
Oct 11, 2024
3
CHEROKEE NATION
OrganizationTAHLEQUAH, OK
$2,500
Oct 29, 2024
4
HUNTON ANDREWS KURTH LLP
OrganizationRICHMOND, VA
$1,000
Jul 25, 2024
5
SHAKOPEE MDEWAKANTON SIOUX COMMUNITY
OrganizationPRIOR LAKE, MN
$1,000
May 1, 2024
6
SHAKOPEE MDEWAKANTON SIOUX COMMUNITY
OrganizationPRIOR LAKE, MN
$1,000
Nov 9, 2023
7
STRONG, MIRANDA
CALISTA • DIRECTOR OF GOVERNMENT RELATIONS
IndividualANCHORAGE, AK
$5,000
Sep 20, 2023
8
STEPHENS, TYLER
FIERCE GOVERNMENT RELATIONS • LOBBYIST
IndividualWASHINGTON, DC
$3,300
Jul 1, 2023
9
SINGER, PAUL
ELLIOTT INVESTMENT MANAGEMENT • CO-CEO, CO-CIO, PRESIDENT
IndividualPALM BEACH, FL
$3,300
Jul 6, 2023
10
SINGER, PAUL
ELLIOTT INVESTMENT MANAGEMENT • CO-CEO, CO-CIO, PRESIDENT
IndividualPALM BEACH, FL
$3,300
Jul 9, 2023

Sen. Tuberville, Tommy [R-AL]

ID: T000278

Top Contributors

43

1
BROAD METRO LLC
OrganizationOLD WESTBURY, NY
$3,300
Apr 18, 2023
2
POARCH BAND OF CREEK INDIANS
OrganizationATMORE, AL
$3,300
Apr 28, 2023
3
POARCH BAND OF CREEK INDIANS
OrganizationATMORE, AL
$2,900
Feb 20, 2023
4
POARCH BAND OF CREEK INDIANS
OrganizationATMORE, AL
$2,900
Apr 28, 2023
5
SUMMERLIN FARMS
OrganizationMOULTRIE, GA
$1,000
Oct 8, 2023
6
KENT HANCE BUSINESS
OrganizationLUBBOCK, TX
$1,000
Aug 17, 2023
7
SUMMERLIN FARMS
OrganizationMOULTRIE, GA
$1,000
Sep 8, 2023
8
KENT HANCE BUSINESS
OrganizationLUBBOCK, TX
$1,000
Sep 16, 2023
9
BEACH ICE LLC
OrganizationMOULTRIE, GA
$500
Oct 8, 2023
10
LEELAND VENTURES LLC
OrganizationHAMPTON COVE, AL
$500
Dec 4, 2023

Sen. Wicker, Roger F. [R-MS]

ID: W000437

Top Contributors

25

1
EASTERN BAND OF CHEROKEE INDIANS
OrganizationCHEROKEE, NC
$25,000
Sep 13, 2024
2
MISSISSIPPI BAND OF CHOCTAW INDIANS
OrganizationCHOCTAW, MS
$15,000
Nov 5, 2024
3
WT CONSULTANTS LLC
OrganizationJACKSON, MS
$2,500
Jan 12, 2023
4
WAYPOINT CONSULTING, LLC
OrganizationWASHINGTON, DC
$1,000
Mar 26, 2024
5
HEDERMAN BROTHERS, LLC
OrganizationMADISON, MS
$1,000
Oct 9, 2024
6
CHOUEST, GARY
EDISON CHOUEST OFFSHORE, LLC • CEO
IndividualGALLIANO, LA
$100,000
Dec 1, 2023
7
HALE, ROBERT T. JR.
GRANITE TELECOM • CEO
IndividualBOSTON, MA
$100,000
Jun 28, 2023
8
BLUE, J. NEAL
GENERAL ATOMICS • CEO
IndividualLA JOLLA, CA
$50,000
Dec 21, 2023
9
HALE, ROBERT T. JR.
GRANITE TELECOM • CEO
IndividualBOSTON, MA
$50,000
Apr 12, 2024
10
DUFF, THOMAS M.
SOUTHERN TIRE MART • PRESIDENT
IndividualHATTIESBURG, MS
$50,000
Sep 30, 2024

Donor Network - Sen. Cruz, Ted [R-TX]

PACs
Organizations
Individuals
Politicians

Hub layout: Politicians in center, donors arranged by type in rings around them.

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Showing 31 nodes and 37 connections

Total contributions: $37

Top Donors - Sen. Cruz, Ted [R-TX]

Showing top 23 donors by contribution amount

1 PAC22 Orgs

Industry Impact

Which industries are materially affected by specific provisions in this bill. 1 helped.

  • +Agribusinessconfidence 0.80

    The bill supports enforcement against illegal, unreported, and unregulated fishing, which benefits legitimate seafood producers and related agribusiness sectors by reducing unfair competition from illicit fishing.

Who funds the sponsor on these industries

For each industry this bill affects, here's what the sponsor (Sen. Cruz, Ted [R-TX])received from donors associated with that industry during the 2022–present cycles. Donations are not proof of intent — they are a record of who funds the people writing the law.

Industries this bill HELPS

  • from 20 contributions
    • CARGILL, DAVID L. MR.$400
    • EMNETT, RICHARD$250
    • MARDIS, JIMMY$250
    • WORK, JAMES T.$201
    • SHEFFIELD, BILL$200

Project 2025 Policy Matches

This bill shows semantic similarity to the following sections of the Project 2025 policy document.AI-enhanced analysis provides detailed alignment ratings.

Environmental Protection Agency

Weak
Vector: 62%
Pages: 467-469AI Enhanced

AI Analysis:

"The bill focuses on seafood traceability and IUU fishing enforcement through chemical analysis, while the Project 2025 EPA section centers on chemical risk evaluations, TSCA reform, and pesticide regulation—topics with minimal thematic overlap."

Key themes:chemical analysisregulatory sciencefederal agency coordination

— 434 — Mandate for Leadership: The Conservative Promise l Ensure that new chemical evaluations are conducted in a timely manner, consistent with statutory requirements, to ensure the competitiveness of U.S. manufacturers. l For new chemicals, reset the program to ensure that reviews are completed on a timeline that is consistent with the statute. This includes revising the regulations governing the reviews of new chemicals. l Ensure that risk evaluations and risk management rules presume that workplaces are following all OSHA requirements, including requirements for personal protective equipment (PPE). l Apply real-world use of chemicals when assessing conditions of use for risk evaluations. l Transition the Safer Choice program to the private sector. l Right-size the TSCA fee’s rule so that it is consistent with the tasks that the agency is actually completing within the timelines of the statute and is not covering the costs of EPA inefficiency or overreach. l Revise existing policies to address the requirements of the 2016 Lautenberg amendments to the TSCA.41 l Develop a framework rule for risk management approaches that will be used under TSCA for existing chemicals. Needed Reforms and New Policy in OPP (Pesticides) l OPP should rely on Department of Agriculture and state usage data that reflect actual pesticide use in registration reviews and Endangered Species Act (ESA)42 analyses. The U.S. Fish and Wildlife Service and National Marine Fisheries Service should rely on similar data in their ESA analyses. l OPP has rigorous testing requirements that registrants must meet before pesticides are allowed on the market. However, when pesticides undergo registration review every 15 years, EPA relies on publicly available data with differing levels of quality and transparency. Data standards are needed to ensure that information relied on by EPA is made available to the agency at a similar level as the original testing data conducted by registrants to ensure that EPA can conduct a robust review and analysis of the data. — 435 — Environmental Protection Agency l ESA reform for pesticides is necessary. When approving pesticides, FIFRA allows for cost-benefit balancing, recognizing that pesticides are effective precisely because they harm pests. However, the ESA does not allow for any consideration of the beneficial effects of pesticides. In order to meet ESA obligations, pesticide uses are severely restricted, leaving growers with limited tools for crop protection. l New policies are needed to ensure that other program offices (such as ORD, OW, and OLEM) will defer to OPP on toxicity issues. OPP has rigorous testing requirements for pesticide ingredients and products to ensure before they go to market that their use will not harm human health and the environment. Assessments by other offices are redundant. l While individual pesticide registrations are considered adjudications and not reviewed by the Office of Management and Budget (OMB), consistent with a 1993 OMB guidance, when pesticide tolerances and registrations are withdrawn by the agency (as opposed to being withdrawn voluntarily by registrants), these actions should undergo coordinated interagency review managed by OMB. Budget The Biden Administration has expanded the scope and breadth of regulatory actions with respect to OPPT and OPP, but both programs continue to maintain that resources are insufficient. OPPT (chemicals) suffers from a lack of leadership and an inability to complete the most basic requirements efficiently and in a timely fashion. While EPA has asked for more resources, including higher industry fees, it is not clear that it has the capacity to use additional dollars efficiently. With regard to OPP (pesticides), pesticide manufacturers feel that the program is underfunded and would like its budget to be increased so that pesticide actions can be reviewed more quickly. Manufacturers are also willing to pay higher fees to the fee-based portion of the program. However, grower groups have been dis- appointed by EPA’s actions and have significant concerns about EPA’s ability to conduct science-based risk assessments and take risk management actions that appropriately balance benefits and risks as required by FIFRA. Guardrails and third-party audits should be part of any funding increases through the Pesticide Registration Improvement Act (PRIA)43 or other mechanisms. OFFICE OF RESEARCH AND DEVELOPMENT (ORD) AND RELATED SCIENCE ACTIVITIES While much of this work has not been authorized by law, EPA conducts a wide variety of intramural and extramural research, development, regulatory science,

Department of Commerce

Weak
Vector: 61%
Pages: 708-710AI Enhanced

AI Analysis:

"The bill focuses on developing a chemical analysis tool to combat IUU fishing and seafood fraud, which is a narrow enforcement-focused initiative. Project 2025's Commerce section critiques NOAA's structure and advocates for downsizing, commercialization, and reducing climate-related activities—none of which are addressed or contradicted by the bill's technical, capacity-building approach."

Key themes:NOAAfisheriesDepartment of Commercemarine resourcesregulatory oversight

— 675 — Department of Commerce l The National Ocean Service (NOS); l The Oceanic and Atmospheric Research (OAR); l The National Environmental Satellite, Data and Information Service (NESDIS); l The National Marine Fisheries Service (NMFS); and l The Office of Marine and Aviation Operations and NOAA Corps. Together, these form a colossal operation that has become one of the main drivers of the climate change alarm industry and, as such, is harmful to future U.S. prosperity. This industry’s mission emphasis on prediction and management seems designed around the fatal conceit of planning for the unplannable. That is not to say NOAA is useless, but its current organization corrupts its useful func- tions. It should be broken up and downsized. NOAA today boasts that it is a provider of environmental information services, a provider of environmental stewardship services, and a leader in applied scientific research. Each of these functions could be provided commercially, likely at lower cost and higher quality. Focus the NWS on Commercial Operations. Each day, Americans rely on weather forecasts and warnings provided by local radio stations and colleges that are produced not by the NWS, but by private companies such as AccuWeather. Studies have found that the forecasts and warnings provided by the private com- panies are more reliable than those provided by the NWS.2 The NWS provides data the private companies use and should focus on its data-gathering services. Because private companies rely on these data, the NWS should fully commercialize its forecasting operations. NOAA does not currently utilize commercial partnerships as some other agencies do. Commercialization of weather technologies should be prioritized to ensure that taxpayer dollars are invested in the most cost-efficient technol- ogies for high quality research and weather data. Investing in different sizes of commercial partners will increase competition while ensuring that the govern- ment solutions provided by each contract is personalized to the needs of NOAA’s weather programs. The NWS should be a candidate to become a Performance-Based Organization to better enforce organizational focus on core functions such as efficient delivery of accurate, timely, and unbiased data to the public and to the private sector.3 Review the Work of the National Hurricane Center and the National Environmental Satellite Service. The National Hurricane Center and National Environmental Satellite Service data centers provide important public safety and — 676 — Mandate for Leadership: The Conservative Promise business functions as well as academic functions, and are used by forecasting agen- cies and scientists internationally. Data continuity is an important issue in climate science. Data collected by the department should be presented neutrally, without adjustments intended to support any one side in the climate debate. Transfer NOS Survey Functions to the U.S. Coast Guard and the U.S. Geo- logical Survey. Survey operations have historically accounted for almost half the NOS budget. These functions could be transferred to the U.S. Coast Guard and U.S. Geological Survey to increase efficiency. NOS’ expansion of the National Marine Sanctuaries System should also be reviewed, as discussed below. Streamline NMFS. Overlap exists between the National Marine Fisheries Service and the U.S. Fish and Wildlife Service. Overly simplified, the NMFS handles saltwater species while the Fish and Wildlife Service focuses on fresh water. The goals of these two agencies should be streamlined. Harmonize the Magnuson–Stevens Act with the National Marine Sanctuaries Act. Under the auspices of NOS, marine sanctuaries (including no-fishing zones) are being established country-wide, often conflicting with the goals of the Magnu- son–Stevens Act fisheries management authorities of NOAA Fisheries, regional fishery management councils, and relevant states. Withdraw the 30x30 Executive Order and Associated America the Beautiful Ini- tiative. The 30x30 Executive Order and the American the Beautiful Initiative are being used to advance an agenda to close vast areas of the ocean to commercial activities, including fishing, while rapidly advancing offshore wind energy devel- opment to the detriment of fisheries and other existing ocean-based industries. Modify Regulations Implementing the Marine Mammal Protection Act and the Endangered Species Act. These acts are currently being abused at a cost to fisheries and Native American subsistence activities around the U.S. Allow a NEPA Exemption for Fisheries Actions. All the requirements for robust analysis of the biological, economic, and social impacts of proposed regulatory action in fisheries are contained with the Magnuson–Stevens Act, the guiding Act for fisheries. NEPA overlays these requirements with onerous, redundant, and time-consuming process requirements, which routinely cause unnecessary delays in the promulgation of timely fisheries management actions. The Department of Commerce and the Council on Environmental Quality should collaborate to reduce this redundancy. Downsize the Office of Oceanic and Atmospheric Research. OAR provides theoretical science, as opposed to the applied science of the National Hurricane Center. OAR is, however, the source of much of NOAA’s climate alarmism. The preponderance of its climate-change research should be disbanded. OAR is a large network of research laboratories, an undersea research center, and several joint research institutes with universities. These operations should be reviewed with an aim of consolidation and reduction of bloat.

Department of the Treasury

Weak
Vector: 56%
Pages: 742-744AI Enhanced

AI Analysis:

"The bill focuses on combating illegal, unreported, and unregulated fishing through seafood origin tracing, while the Project 2025 Treasury section emphasizes moving law enforcement agencies to Treasury to tackle economic crimes like drug smuggling and tax evasion. Both share a general theme of enhancing enforcement against illicit activities, but they operate in different policy domains and lack direct institutional or substantive overlap."

Key themes:law enforcementillicit activity preventioninteragency coordination

— 710 — Mandate for Leadership: The Conservative Promise in-house law enforcement capabilities via the return of the United States Coast Guard and the Bureau of Alcohol, Tobacco, Firearms, and Explosives. Bringing these agencies back from the Department of Homeland Security and the Depart- ment of Justice, respectively, would allow Treasury, in the case of U.S. Coast Guard, to increase border security via a vigilance with respect to economic crimes (for example, drug smuggling and tax evasion). U.S. Trade and Development Agency. Congress should eliminate the U.S. Trade and Development Agency (USTDA). The USTDA is intended to help com- panies create U.S. jobs through the export of U.S. goods and services for priority development projects in emerging economies. The USTDA links U.S. businesses to export opportunities by funding project planning activities, pilot projects, and reverse-trade missions while creating sustainable infrastructure and economic growth in partner countries. These activities more properly belong to the private sector. The best way to promote trade and development is to reduce tariff and non-tariff trade barriers. Another way is to reduce the federal budget deficit, and thereby federal borrowing from abroad, freeing more foreign dollars to be spent on U.S. exports instead of federal treasury bonds. Other Issues. Many Treasury Department issues cut across multiple parts of Treasury or other governmental agencies. Several are discussed in this chapter, but not all can be covered here in depth. Other issues of concern include China, cybersecurity, digital assets, digital services taxes, international debt defaults, Iran, Social Security and Medicare Trust Funds and private sector pensions, sanctions policy, and treasury auction and debt issuance. AUTHORS’ NOTE: The preparation of this chapter was a collective enterprise of individuals involved in the 2025 Presidential Transition Project. All contributors to this chapter are listed at the front of this volume, but Monica Crowley, Tom Dans, John Berlau, Austin Bramwell, Preston Brashers, Alexandra Harrison Gaiser, Nathan Hitchen, Adam Korzeniewski, and Jonathan Moy deserve special mention. The authors alone assume responsibility for the content of this chapter, and no views expressed herein should be attributed to any other individual. — 711 — Department of the Treasury ENDNOTES 1. EJ Antoni, “Biden Keeps Making Claims About the Economy That Just Aren’t True. These Facts Don’t Lie,” Heritage Foundation Commentary, February 8, 2023, https://www.heritage.org/markets-and-finance/ commentary/biden-keeps-making-claims-about-the-economy-just-arent-true-these. 2. “Fidelity 2022 Retirement Analysis: In the Midst of Inflation and Uncertainty, Retirement Account Balances Are Rising,” table, “Average Retirement Account Balances,” February 23, 2023, https://newsroom.fidelity.com/ pressreleases/fidelity--2022-retirement-analysis--in-the-midst-of-inflation-and-uncertainty--retirement- account-ba/s/095bb4a8-cf3a-484e-a911-bc0c61c460ff (accessed March 22, 2023). 3. See U.S. Department of the Treasury, Fiscal Year 2022–2026 Strategic Plan and Budget Request for FY 2023, 2022, https://home.treasury.gov/system/files/266/COMBINED-CJ-Web-Version-FY-2023.pdf (accessed March 18, 2023). 4. U.S. Department of the Treasury, Agency Financial Report: Fiscal Year 2015, November 16, 2015, p.4 https:// home.treasury.gov/system/files/266/AFR-FY15-508.pdf (accessed March 19, 2023). 5. Domestic Finance, U.S. Department of the Treasury https://home.treasury.gov/about/offices/domestic-finance. 6. U.S. Constitution, art. I, sec. 9. 7. Ibid., p. ES 1. 8. Including direct and reimbursable employees. See ibid., “Fiscal Year Comparison of Full-Time Equivalent (FTE) Staffing (Direct and Reimbursable),” p. ES 4. 9. U.S. Department of the Treasury, “Offices,” https://home.treasury.gov/about/offices (accessed March 18, 2023). 10. U.S. Department of the Treasury, “Bureaus,” https://home.treasury.gov/about/bureaus (accessed March 18, 2023). 11. U.S. Department of the Treasury, Office of the Inspector General, “Overview,” https://oig.treasury.gov (accessed March 19, 2023). 12. William M (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021, Public Law 116–283, §§ 6001–6511. 13. See, for example, Timothy Vermeer, “The Impact of Individual Income Tax Changes on Economic Growth,” Tax Foundation Fiscal Fact No. 793, June 2022, https://files.taxfoundation.org/20220610142519/The-Impact-of- Individual-Income-Tax-Changes-on-Economic-Growth-2.pdf (accessed March 18, 2023), and Karel Mertens and José Luis Montiel Olea, “Marginal Tax Rates and Income: New Time Series Evidence,” Quarterly Journal of Economics, Vol. 133, No. 4 (November 2018), pp. 1803–1884. 14. The current tax system is not neutral toward investment. This neutrality criterion is sometimes expressed as ensuring that the private rate of return equals the social rate of return, that the tax system does not raise the user cost of capital, that all factor incomes are taxed once and equally, that the tax system defines income properly, or that the tax is a consumption tax. For the basic user cost of capital analysis with taxes, see Robert E. Hall and Dale W. Jorgenson, “Tax Policy and Investment Behavior,” American Economic Review, Vol. 57, No. 3 (June, 1967), pp. 391–414, https://web.stanford.edu/~rehall/Tax-Policy-AER-June-1967.pdf (accessed March 19, 2023). See also Kevin A. Hassett and Kathryn Newmark, “Taxation and Business Behavior: A Review of the Recent Literature,” in John W. Diamond and George R. Zodrow, eds., Fundamental Tax Reform: Issues, Choices, and Implications (Cambridge, MA: MIT Press, 2008), and Alan J. Auerbach, “Taxation and Capital Spending,” University of California, Berkeley, September 2005, http://eml.berkeley.edu//~auerbach/capitalspending.pdf (accessed March 19, 2023). 15. Scott A. Hodge, “The Compliance Costs of IRS Regulations,” Tax Foundation Fiscal Fact No. 512, June 2016, https://files.taxfoundation.org/legacy/docs/TaxFoundation_FF512.pdf (accessed March 19, 2023), and Jason J. Fichtner and Jacob M. Feldman, “The Hidden Costs of Tax Compliance,” Mercatus Center, May 20, 2013, https:// papers.ssrn.com/sol3/papers.cfm?abstract_id=2267971 (accessed March 19, 2023). 16. In formal terms, tax policy should seek to minimize the excess burden or deadweight loss of the tax system. See John Creedy, “The Excess Burden of Taxation and Why it (Approximately) Quadruples When the Tax Rate Doubles,” New Zealand Treasury Working Paper No. 03/29, December 2003, https://www.econstor.eu/ bitstream/10419/205534/1/twp2003-29.pdf (accessed March 19, 2023). See also, for example, N. Gregory Mankiw, Principles of Economics, 4th ed. (South-Western College Pub, 2006), ch. 8, or many other textbooks on price theory, microeconomics, or principles of economics.

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