Text of Senate Amendment 6713

On 2026-07-29, Senator Mazie K. Hirono (D-HI) delivered a floor speech titled "Text Of Senate Amendment 6713" in the Senate.

Text of Senate Amendment 6713

Congressional Record, Volume 172 Issue 124 (Wednesday, July 29, 2026) [Congressional Record Volume 172, Number 124 (Wednesday, July 29, 2026)] [Senate] [Page S4346] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] SA 6713. Ms. HIRONO submitted an amendment intended to be proposed by her to the bill H.R. 5334, to amend the Internal Revenue Code of 1986 to allow early childhood educators to take the educator expense deduction, and for other purposes; which was ordered to lie on the table; as follows: At the appropriate place, insert the following: SEC. ___. PROHIBITION ON PREDICTION MARKET PARTICIPATION BY CERTAIN EXECUTIVE BRANCH INDIVIDUALS. (a) Definitions.--In this section: (1) Cabinet official.--The term ``Cabinet official'' means-- (A) an individual serving in a position at level I of the Executive Schedule under section 5312 of title 5, United States Code; and (B) any other individual who occupies a position designated by the President as a Cabinet-level position. (2) Covered individual.-- (A) In general.--The term ``covered individual'' means-- (i) the President; (ii) the Vice President; (iii) any Cabinet official; and (iv) any immediate family member of an individual described in clause (i), (ii), or (iii). (B) Immediate family member.--For purposes of subparagraph (A), the term ``immediate family member'' means a spouse, a parent, or a child of an individual described in clause (i), (ii), or (iii) of that subparagraph. (b) Prohibition.--No covered individual may enter into, or offer to enter into, an agreement, contract, swap, or transaction that provides for any purchase, sale, payment, or delivery of an excluded commodity, as defined in section 1a of the Commodity Exchange Act (7 U.S.C. 1a), that is dependent on the occurrence, nonoccurrence, or the extent of the occurrence of a specific event or contingency. (c) Enforcement.-- (1) In general.--The Attorney General, or the attorney general of any State, may bring a civil action seeking relief for a violation of subsection (b) in an appropriate district court of the United States. (2) Penalties.--Any covered individual who violates subsection (b) shall be liable to the United States for-- (A) a civil penalty that does not exceed $50,000 per violation; (B) disgorgement of any profit from the violation to the Treasury of the United States; or (C) both. (d) Rule of Construction.--Nothing in this section shall be construed to apply to insurance for which the insured holds a lawful insurable interest. ______