mutual-flourishing/ADPA/bills/CATA.md

Corporate Accountability & Transparency Act (CATA)

118th Congress, 2nd Session
H.R. _____ / S. _____

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A BILL

To strengthen corporate oversight, ensure transparent business practices, and protect public interests through comprehensive regulatory frameworks.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

Section 1. Short Title

This Act may be cited as the "Corporate Accountability & Transparency Act" or "CATA".

Section 2: Purpose and Scope

This Act strengthens corporate oversight, ensures transparent business practices, and protects public interests through comprehensive regulatory frameworks.

1.1 Objectives

• Prevent corporate deregulation that threatens public safety
• Ensure transparent business operations and financial reporting
• Protect workers, consumers, and the environment
• Maintain fair market competition
• Combat corporate corruption and regulatory capture

Section 2: Congressional Oversight of Deregulation

2.1 Regulatory Protection Measures

• Any proposed removal or significant modification of corporate regulations requires:
  • Two-thirds congressional approval in both chambers
  • Public comment period of 90 days
  • Impact assessment on public health, safety, and environment
  • Independent economic analysis

2.2 Anti-Lobbying Provisions

• Corporations are prohibited from:
  • Funding self-regulation campaigns
  • Using third-party organizations to circumvent lobbying restrictions
  • Offering post-government employment to regulators within 5 years
• Mandatory disclosure of all lobbying activities and expenditures

Section 3: Corporate Tax Enforcement

3.1 Tax Transparency Requirements

• Quarterly public reporting for corporations with annual revenue over $100 million:
  • Effective tax rates
  • Offshore holdings and transfers
  • Tax benefits and credits received
  • Country-by-country profit reporting
• Annual reporting for corporations with revenue between $10-100 million
• Simplified reporting for small businesses under $10 million annual revenue

3.2 Anti-Evasion Measures

• Minimum effective corporate tax rate of 15%
• Elimination of shell company tax shelters
• Enhanced penalties for tax evasion:
  • Fines up to 300% of evaded taxes
  • Mandatory external audits
  • Personal liability for executives in cases of willful evasion

Section 4: Environmental & Workplace Safety Standards

4.1 EPA Oversight Enhancement

• Tiered environmental impact assessment requirements:
  • Large corporations (>$100M revenue): Comprehensive quarterly assessments
  • Mid-size corporations ($10-100M): Annual assessments
  • Small businesses (<$10M): Simplified biennial assessments
• Industry-appropriate emissions monitoring:
  • High-impact industries: Continuous monitoring
  • Medium-impact industries: Weekly monitoring
  • Low-impact industries: Monthly monitoring
• Enhanced cleanup requirements scaled to company size and incident severity
• Whistleblower protections for environmental violations

4.2 OSHA Authority Expansion

• Risk-based inspection frequency:
  • High-risk industries: Monthly inspections
  • Medium-risk industries: Quarterly inspections
  • Low-risk industries: Annual inspections
• Scaled safety training requirements based on industry risk level
• 72-hour incident reporting window for non-emergency violations
• Immediate reporting required for serious incidents
• Worker protection against retaliation with clear appeal process

4.3 Penalties and Enforcement

• Progressive penalty structure for repeat violations
• Personal executive liability for willful violations
• Mandatory facility shutdowns for severe safety breaches
• Public database of corporate violations

Section 5: Monopoly & Anti-Trust Enforcement

5.1 Market Competition Protection

• Enhanced DOJ authority to investigate monopolistic practices
• Mandatory review of mergers affecting over 25% market share
• Prohibition of predatory pricing and market manipulation
• Protection for small businesses against anti-competitive practices

5.2 Digital Platform Regulation

• Special oversight of tech platforms with over 100 million users
• Prohibition of self-preferencing in digital marketplaces
• Mandatory interoperability requirements
• Data portability rights for users

5.3 Enforcement Mechanisms

• Tripled penalties for antitrust violations
• Streamlined process for breaking up monopolies
• Enhanced private right of action for affected businesses
• Mandatory disgorgement of profits from anti-competitive practices

Section 6: Corporate Transparency

6.1 Financial Disclosure Requirements

• Real-time reporting of significant corporate events
• Enhanced executive compensation disclosure
• Detailed supply chain transparency
• Political spending disclosure

6.2 Board Accountability

• Independent board member requirements
• Mandatory stakeholder representation
• Enhanced shareholder rights
• Regular board diversity reporting

Section 7: Implementation and Oversight

7.1 Enforcement Authority

• Creation of Corporate Accountability Office with two divisions:
  • Large Corporation Oversight Division
  • Small Business Support Division
• Independent oversight board with industry expertise requirements
• Regular congressional reporting with size-specific impact analysis
• Public engagement requirements with accessibility considerations

7.2 Resources and Funding

• Scaled filing fees based on corporate revenue
• Technical assistance program for small businesses
• Compliance support hotline
• Small business grant program for compliance upgrades

Section 8: Penalties and Remedies

8.1 Civil Penalties

• Tiered penalty structure based on:
  • Company size and revenue
  • Violation severity
  • Compliance history
  • Good faith efforts to comply
• Payment plan options for smaller entities
• Penalty reduction for voluntary disclosure

8.2 Criminal Penalties

• Focus on willful and knowing violations
• Enhanced prosecution authority for serious violations
• Executive criminal liability requiring proof of direct knowledge
• Debarment from government contracts with appeal process
• Alternative sentencing options for small business violations

Section 9: Phase-In Timeline

9.1 Large Corporations (>$100M annual revenue)

• Immediate effect for core provisions
• 180-day implementation period for new requirements

9.2 Mid-Size Companies ($10-100M annual revenue)

• One-year phase-in period
• Technical assistance available during transition

9.3 Small Businesses (<$10M annual revenue)

• Two-year phase-in period
• Simplified compliance requirements
• Access to compliance assistance programs

Section 10: Regular Review and Adjustment

• Annual review of implementation impact
• Small business impact assessment
• Industry-specific compliance analysis
• Regular stakeholder feedback sessions
• Congressional oversight hearings with size-specific focus

Section 11: Alternative Investment Oversight

11.1 Private Equity Transparency

• Quarterly reporting requirements for funds managing >$1B in assets:
  • Portfolio company impact assessments
  • Job creation/elimination data
  • Community economic impact reports
  • Environmental and social governance metrics
• Worker protection requirements during buyouts:
  • 90-day notice before major restructuring
  • Severance protection standards
  • Healthcare continuation guarantees
  • Pension plan protection requirements

11.2 Hedge Fund Oversight

• Enhanced reporting for hedge funds >$500M assets under management:
  • Monthly position reporting to regulators
  • Systemic risk assessment participation
  • Leverage ratio disclosure requirements
  • Market manipulation prevention measures
• Anti-manipulation provisions:
  • Prohibition on coordinated short selling campaigns
  • Enhanced penalties for market manipulation
  • Real-time monitoring of large positions

11.3 Cryptocurrency Corporate Holdings

• Real-time reporting requirements for corporate crypto transactions >$10M
• Anti-money laundering compliance for corporate cryptocurrency use:
  • Know Your Customer (KYC) requirements for crypto counterparties
  • Suspicious Activity Report (SAR) filing obligations
  • Enhanced due diligence for high-risk jurisdictions
• Environmental impact reporting for crypto mining operations:
  • Carbon footprint disclosure
  • Energy source transparency
  • Renewable energy transition plans

Section 12: Global Tax Coordination

12.1 International Tax Information Exchange

• Automatic exchange agreements with OECD and G20 countries
• Real-time sharing of corporate tax information with treaty partners
• Joint audit programs for multinational corporations
• Coordinated penalty structures for international tax evasion

12.2 Anti-Base Erosion Measures

• Enhanced implementation of OECD Base Erosion and Profit Shifting (BEPS) standards
• Country-by-country profit reporting requirements
• Minimum tax implementation aligned with international frameworks
• Digital services tax coordination with international partners