Bill · S. 2680· Senate(119-S-2680)
LETITIA Act
- Introduced
- 8/2/2025
- Last activity
- 8/2/2025 — Read twice and referred to the Committee on the Judiciary.
- Sponsored by
- John Cornyn
- Cosponsors
- - 7 - 0
- Introduced
- In Committee
What this bill would do
The LETITIA Act establishes harsher punishments for elected public officials who commit specific financial crimes. It creates sentencing enhancements for offenses involving bank fraud, mortgage, credit, and tax fraud. These enhancements include mandatory minimum prison sentences and higher fines specifically for those holding public office. The bill also requires the Department of Justice and the Department of the Treasury to issue new enforcement guidance. This guidance aims to instruct law enforcement on how to investigate and prosecute these crimes when committed by public officials.
Yes· 3 of 6
Does this make what the government does easier for the public to see?+4
The bill increases accountability and oversight for public officials who commit financial crimes.
Does this raise taxes on the highest earners?+3
The bill increases fines for public officials who commit tax fraud.
Does this make the government pay for what it commits to?+2
The bill enhances penalties for financial crimes like tax and bank fraud committed by officials.
The opposite
Does this shorten or soften prison sentences?-5
The bill imposes new mandatory minimum prison sentences for public officials committing financial fraud.
Who it would affect, and how
Potential Positive Impacts for People
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Increased Accountability for Public Officials: The bill targets officials who abuse their "sacred trust" and position of influence to commit crimes of dishonesty (Section 2).
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Heightened Punishment for First and Second Offenses: For bank fraud, officials face a fine of up to $1,500,000 and a prison sentence of at least 1 year (Section 3). For falsifying loan and credit applications, officials face a fine of up to $1,500,000 and a prison sentence of at least 1 year (Section 4). For falsifying tax filings, the bill replaces the standard fine with $150,000 and replaces the sentence with a term of at least 6 months (Section 5).
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Stricter Penalties for Repeat Offenders: For bank fraud, officials with a third or subsequent offense face fines up to $2,000,000 and at least 5 years in prison (Section 3). For falsifying loan and credit applications, the fine can reach $2,000,000 and the prison term must be at least 5 years (Section 4). For tax filings, a third or subsequent offense carries a fine of up to $200,000 and a prison term of at least 2 years (Section 5).
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Improved Law Enforcement Coordination: The bill directs the Attorney General and the Secretary of the Treasury to issue instructions to law enforcement and task forces regarding the investigation of public officials (Section 6). This includes establishing best practices for collaboration between the Department of the Treasury and the Department of Justice (Section 6).
Potential Negative Impacts for People
- Increased Prison Sentences for Public Officials: The bill imposes mandatory minimum sentences for bank fraud and loan/credit fraud that were not previously required for a first or second offense (Section 3 and Section 4). For tax filings, the bill replaces a sentence of "not more than 3 years" with a requirement of "not less than 6 months" for a first or second offense (Section 5).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Economy And Finance
- Increases Wealthy Taxes+3Improves Fiscal Responsibility+2
- Social Issues And Justice
- Improves Criminal Sentencing Reform-5
- Demographic And Interest Groups
- Good For Low Income Households+2Good For High Income Households+1Good For Urban Residents+1
- Governance And Ideology
- Improves Government Transparency+4
- 9/2/2025
- 1 Cosponsor added.
- 8/2/2025
- Read twice and referred to the Committee on the Judiciary.
- 6 Cosponsors added.
- Introduced in Senate
John BarrassoRepublican · Wyoming
Ted BuddRepublican · North Carolina
Steve DainesRepublican · Montana
Deb FischerRepublican · Nebraska
John KennedyRepublican · Louisiana
Pete RickettsRepublican · Nebraska
Roger WickerRepublican · Mississippi