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Global Economic Effects of COVID-19 [Updated July 24, 2020]
From the Summary: "Since the COVID-19 [coronavirus disease 2019] outbreak was first diagnosed, it has spread to over 200 countries and all U.S. states. The pandemic is negatively affecting global economic growth beyond anything experienced in nearly a century. Estimates so far indicate the virus could trim global economic growth by 3.0% to 6.0% in 2020, with a partial recovery in 2021, assuming there is not a second wave of infections. [...] The full impact will not be known until the effects of the pandemic peak. This report provides an overview of the global economic costs to date and the response by governments and international institutions to address these effects."
Library of Congress. Congressional Research Service
Jackson, James K., 1949-; Schwarzenberg, Andres B.; Weiss, Martin A. . . .
2020-07-24
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Fiscal Policy and Recovery from the COVID-19 Recession [Updated July 23, 2020]
From the Summary: "The economic contraction that began in February 2020 differs from previous contractions, including the Great Depression of the 1930s and the Great Recession of 2007-2009. It was caused in large part by concerns about the spread of the Coronavirus Disease 2019 (COVID-19) and government policies aimed at limiting person-to-person contact. The health concerns of the public and the stay-at-home and shutdown orders designed to limit contact reduced cash flow to businesses and increased the number of unemployed workers. Fiscal policy during the current contraction, recovery, and beyond may take two forms: (1)fiscal policy designed to prevent business failures and sustain the unemployed during the initial pronounced contraction; and (2)fiscal policy used during a traditional recession and recovery aimed at stimulating aggregate demand in general and restoring full employment. Some data, such as rises in reported case numbers in certain areas, suggest that parts of the economy are still in the grip of the pandemic."
Library of Congress. Congressional Research Service
Gravelle, Jane; Marples, Donald
2020-07-23
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Can the United States Sue China Over COVID-19 in an International Court? [July 24, 2020]
From the Document: "Some Members of Congress assert that China should bear international legal responsibility for its alleged role in failing to contain the COVID-19 [coronavirus disease 2019] pandemic in its early weeks. Proposed options to impose accountability include initiating investigations of China, giving the President authority to impose COVID-19-related sanctions, reforming World Health Organization (WHO) regulations, and narrowing China's foreign sovereign immunity so that it could face litigation in U.S. courts. In addition to these proposals, some Members of Congress have urged the United States to sue China in an international forum for damages arising from COVID-19's spread. [...] This Sidebar examines these legal questions and discusses whether an international forum would hear a dispute over China's alleged failure to comply with IHR [International Health Regulations] (2005)'s notification and information-sharing requirements."
Library of Congress. Congressional Research Service
Mulligan, Stephen P.
2020-07-24
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CARES Act Payments Use and Recipient Characteristics: In Brief [July 24, 2020]
From the Document: "In response to the Coronavirus Disease 2019 (COVID-19) pandemic, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act, P.L. 116-136) provided direct payments to individuals and families. The maximum amount of these payments--sometimes referred to as 'stimulus checks' or 'stimulus payments'--is $1,200 per eligible individual ($2,400 for married taxpayers filing a joint tax return) and $500 per eligible child. The payment amounts are reduced $5 for each $100 that a taxpayer's income exceeds the phaseout threshold. These thresholds are (1) $150,000, if filing as married filing jointly; (2) $112,500, if filing as head of household; and (3) $75,000, for single filers. [...] This report provides summary statistics on how recipients used their stimulus payments, followed by characteristics of recipients. The estimates in this report were obtained from the Census Bureau's new Household Pulse Survey."
Library of Congress. Congressional Research Service
Keightley, Mark P.
2020-07-24
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Regulating Internet Access: Lessons from COVID-19 [July 20, 2020]
From the Document: "As some states and localities have paused re-opening efforts in response to recent increases in COVID-19 [coronavirus disease 2019] cases, internet access continues to serve a critical role to help many individuals work, learn, and receive healthcare from home. The Federal Communications Commission (FCC or Commission) has encouraged internet service providers to expand internet access and ensure that networks can support increased traffic. A centerpiece of the FCC's approach in the early stages of the COVID-19 emergency was the Keep Americans Connected Pledge. Internet providers who took the voluntary pledge promised to waive late fees and not disconnect a customer's service through June 30. [...] This Legal Sidebar discusses how the FCC's statutory authority under the Communications Act applies to broadband internet access. The Sidebar concludes with a brief discussion of how the FCC's interpretation of its statutory authority has shaped the Commission's response to COVID-19 and the congressional role in regulating broadband access."
Library of Congress. Congressional Research Service
Holmes, Eric N.
2020-07-20
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Treasuries and Repo in the Time of COVID-19 [July 20, 2020]
From the Document: "The U.S. Treasury issues debt securities--known as Treasuries--that play three critical roles in the economy: funding the government, supplying safe assets, and anchoring liquidity flows in financial markets. This Insight examines how the coronavirus pandemic has affected all three roles."
Library of Congress. Congressional Research Service
Austin, D. Andrew; Miller, Rena S.
2020-07-20
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Business Use of Tax and Other Provisions in the Cares Act and Other COVID-19 Legislation: Evidence from Surveys [Updated July 23, 2020]
From the Document: "The Coronavirus Aid, Relief, and Economic Security Act (CARES Act; P.L. 116-136) provided a range of benefits to businesses and their employees. [...] Three of the act's major programs are mutually exclusive (overall, or at least with respect to a given employee) and require employers to decide about whether to retain workers and how to pay them. [1] The Paycheck Protection Program (PPP) for small businesses allowed low-interest loans that could be forgiven if employees were retained. [2] Expanded unemployment insurance (UI) benefits helped workers laid off or furloughed (as well as the small number of employees using work sharing under short-time compensation [STC]). [3] The employee retention tax credit (ERTC) provided a credit for 50% of wages up to a ceiling for retained workers. [...] The PPP's popularity led to an expansion of the $349 billion initially authorized, with $310 billion added in the Paycheck Protection Program and Health Care Enhancement Act (P.L. 116-139). The Federal Reserve also instituted some additional lending programs, including the Main Street Lending Program to provide delayed and low-interest loans. The CARES Act includes a number of authorizations for funding for Treasury and the Federal Reserve."
Library of Congress. Congressional Research Service
Gravelle, Jane
2020-07-23
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Recent Responses to COVID-19 by the Judicial Conference of the United States, Administrative Office of the U.S. Courts, and Select Courts Within the Federal Judiciary (July 2020) [July 21, 2020]
From the Document: "This Insight provides information related to recent responses to Coronavirus Disease 2019 (COVID-19) by the Judicial Conference of the United States, the Administrative Office of the U.S. Courts (AO), and select courts within the federal judiciary. Most of the responses discussed below have occurred since June 1, 2020. A previous Insight provides information about responses prior to June 1, 2020. Another Insight provides information about some of the initial responses to COVID-19 by the federal judiciary. This Insight is not intended to provide a comprehensive overview of policies and practices adopted by each federal court or judicial entity since June 1, 2020 (or earlier)."
Library of Congress. Congressional Research Service
McMillion, Barry J.
2020-07-21
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SBA's Office of Inspector General: Overview, Impact, and Relationship with Congress [Updated May 12, 2020]
From the Summary: "This report examines the SBA OIG's [U.S. Small Business Administration's Office of Inspector General] statutory authorities; reporting requirements; funding ($23.5 million in FY2020); staffing and organizational structure; and recent activities (audits, investigations, etc.), including an examination of the SBA's implementation of the Paycheck Protection Program (PPP). The PPP was created to assist small businesses adversely affected by the Coronavirus Disease 2019 (COVID-19) pandemic. This report also examines the SBA OIG's impact on monetary savings, SBA programs and operations, and legislation affecting the agency. The report concludes with observations concerning the SBA OIG's relationship with Congress."
Library of Congress. Congressional Research Service
Dilger, Robert Jay, 1954-
2020-05-12
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Small Business Administration Microloan Program [Updated June 10, 2020]
From the Summary: "The Small Business Administration's (SBA's) Microloan program provides direct loans to nonprofit intermediary lenders to provide 'microloans' of up to $50,000 to small businesses and nonprofit child care centers. They also provide marketing, management, and technical assistance to microloan borrowers and potential borrowers. [...] Congressional interest in the Microloan program has increased in recent years, primarily because microloans are viewed as a means to assist very small businesses, especially women- and minority-owned startups, to get loans that enable them to create and retain jobs. Job creation and preservation, always a congressional interest, has taken on increased importance given the Coronavirus Disease 2019 (COVID-19) pandemic's adverse impact on the national economy. This report describes the program's eligibility standards and operating requirements. It also examines arguments presented by the program's critics and advocates."
Library of Congress. Congressional Research Service
Dilger, Robert Jay, 1954-
2020-06-10
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Medicaid Recession-Related FMAP Increases [May 7, 2020]
From the Document: "Medicaid is a means-tested entitlement program that finances the delivery of primary and acute medical services, as well as long-term services and supports. Historically, Medicaid eligibility generally has been limited to low-income children, pregnant women, parents of dependent children, the elderly, and individuals with disabilities. [...] The federal government provided states with fiscal relief through temporary FMAP [federal medical assistance percentage] rate increases in response to the 2001 recession (March 2001 through November 2001) and the Great Recession (December 2007 through June 2009). The Families First Coronavirus Response Act (FFCRA; P.L. 116-127), enacted on March 18, 2020, recently added a temporary Medicaid FMAP increase, beginning January 1, 2020, and continuing through the Coronavirus Disease 2019 (COVID-19) public health emergency period. This report begins with an overview of the FMAP rate. Then, it discusses the recession-related impact on the Medicaid program based on the experiences of the 2001 recession and the Great Recession. The final section of this report describes the three recession-related FMAP increases and compares them according to their various aspects, such as time periods for the FMAP increases, the amounts of the increases, and the requirements for states to receive the increases."
Library of Congress. Congressional Research Service
Mitchell, Alison
2020-05-07
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Community Bank Leverage Ratio (CBLR): Background and Analysis of Bank Data [Updated May 11, 2020]
From the Introduction: "To improve individual bank safety and soundness and financial system stability, bank regulators have implemented a number of regulations requiring banks to hold minimum levels of capital. [...] In response to concerns that small banks faced unnecessarily burdensome capital requirements, Congress mandated further tailoring of capital rules in Section 201 of P.L. 115-174, the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018 (EGRRCPA). [...] This report examines capital ratios generally, as well as the capital ratio regime that was in place before EGRRCPA's enactment and will continue to be in place for banks that do not qualify for or do not elect to exercise the CBLR [Community Bank Leverage Ratio] option. It then describes Section 201 of EGRRCPA, the regulation implemented pursuant to that provision, and the ensuing debate surrounding this implementation. The report then describes the temporary lowering of the threshold pursuant to the CARES [Coronavirus Aid, Relief, and Economic Security] Act. Lastly, this report presents estimates on the number and characteristics of banks that would have qualified under the rule given their pre-implementation balance sheets and estimates those banks' CBLRs in the pre-implementation time period. This provides context on the number of banks potentially affected by CBLR implementation."
Library of Congress. Congressional Research Service
Perkins, David W.
2020-05-11
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Mortgage Servicing Rights and Selected Market Developments [May 6, 2020]
From the Document: "After a single-family mortgage has been originated, a 'mortgage servicer' receives a fee to perform various administrative tasks--collecting and remitting the principal and interest payments to the mortgage lender; managing the borrower's escrow account; processing the loan title once paid in full; and administering loss mitigation (e.g., forbearance plans) or foreclosure resolution on behalf of the lender if the borrower falls behind or fails to make full payment. Just as a mortgage is an asset for a lender, the right to earn income for servicing a mortgage is an asset for the mortgage servicer. A 'mortgage servicing' right (MSR) generates a servicing fee averaging 25 basis points (0.25% or $250 per $100,000 of an outstanding mortgage balance) per month. This Insight describes the MSR market and pre- and post-COVID-19 (Coronavirus Disease 2019) market developments."
Library of Congress. Congressional Research Service
Getter, Darryl E.
2020-05-06
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SBA Economic Injury Disaster Loans for COVID-19 [Updated March 18, 2020]
From the Document: "The current COVID-19 [coronavirus disease 2019] pandemic may have significant economic implications for businesses and nonprofit organizations, including negative impacts on imports, global supply chains, and tourism. Furthermore, if COVID-19 becomes increasingly widespread or prolonged it may slow global growth, and some businesses may be forced to furlough or lay off workers. One potential form of assistance to small businesses is Small Business Administration (SBA) economic injury disaster loans (EIDLs)."
Library of Congress. Congressional Research Service
Lindsay, Bruce R.
2020-03-18
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Precision-Guided Munitions: Background and Issues for Congress [Updated June 26, 2020]
From the Introduction: "This report focuses on selected precision-guided munitions (PGMs) fielded by the Air Force, Army, Navy, and Marine Corps. Over the years, the U.S. military has relied on PGMs to execute ground, air, and naval military operations. PGMs have become ubiquitous in U.S. military operations; funding for these weapons has increased dramatically from FY1998 to the present as depicted in. In FY2021, the Department of Defense (DOD) requested approximately $4.1 billion for more than 41,337 weapons in 15 munitions programs. DOD projects requesting approximately $3.3 billion for 20,456 weapons in FY2022, $3.9 billion for 23,306 weapons in FY2023, $3.9 billion for 18,376 weapons in FY2024, and $3.6 billion for 16,325 weapons in FY2025."
Library of Congress. Congressional Research Service
Hoehn, John R.; Ryder, Samuel D.
2020-06-26
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Policing Reform Legislation: Conditions on Funding and New Authorizations [June 25, 2020]
From the Document: "The death of George Floyd in Minneapolis, MN, while in the custody of law enforcement, along with several other high-profile deaths of African Americans at the hands of the police (including Eric Garner in Staten Island, NY; Philando Castile in Falcon Heights, MN; and Breonna Taylor in Louisville, KY), have served as the catalyst for protests against police violence in cities across the country. These deaths and the resulting protests have spurred interest in policing reform legislation in Congress. On June 8, 2020, Representative Karen Bass introduced the George Floyd Justice in Policing Act of 2020 (H.R. 7120). Ten days later, Senator Tim Scott introduced the Just and Unifying Solutions to Invigorate Communities Everywhere Act of 2020 (JUSTICE Act; S. 3985). [...] This report provides an overview of the new conditions that would be placed on existing grant programs and the authorizations for new grant programs contained in both pieces of legislation. The report does not discuss provisions of either bill that do not establish new requirements for state and local governments or authorize new funding (e.g., proposals to make lynching a federal crime or to make the use of chokeholds a federal civil rights violation)."
Library of Congress. Congressional Research Service
James, Nathan
2020-06-25
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Regulating Federal Law Enforcement: Considerations for Congress [June 24, 2020]
From the Document: "In the wake of unrest arising from the May 2020 death of George Floyd, broader questions have arisen regarding Congress's authority to regulate law enforcement officers. While federalism principles limit the extent to which Congress may pass laws directly affecting state and local police officers, Congress has broader authority to regulate 'federal' law enforcement officers and agencies such as the Federal Bureau of Investigation (FBI), the Drug Enforcement Administration (DEA), or the Customs and Border Protection (CBP). This Sidebar explores the existing criminal, administrative, and civil remedies that impose liability on federal law enforcement officials for claims of excessive use of force, including those brought under the 'Bivens' doctrine and the Federal Tort Claims Act (FTCA). It then concludes by discussing considerations for Congress regarding further regulation of federal law enforcement officials"
Library of Congress. Congressional Research Service
Novak, Whitney K.
2020-06-24
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Policing the Police: Qualified Immunity and Considerations for Congress [Updated June 25, 2020]
From the Document: "Qualified immunity is a judicially created doctrine shielding public officials who are performing discretionary functions from civil liability. The doctrine plays a particularly prominent role in defense of civil rights lawsuits against federal law enforcement officials under the 'Bivens' doctrine and against state and local police under 42 U.S.C. § 1983 (Section 1983). With regard to its role in civil lawsuits concerning violations of constitutional norms regulating the police, defenders of the doctrine have suggested that qualified immunity plays an important role in affording police officers some level of deference when making split-second decisions about whether to, for example, use force to subdue a fleeing or resisting suspect. Critics of the doctrine have questioned its legal origins and have argued that its practice has provided too much deference to the police at the expense of accountability and the erosion of criminal suspects' constitutional rights. With increasing focus on whether Congress should legislate to abrogate or otherwise modify the doctrine, this Sidebar explores the legal basis for qualified immunity, how it has operated in practice, and current debate over the efficacy of the doctrine. The Sidebar concludes by discussing considerations for Congress regarding qualified immunity."
Library of Congress. Congressional Research Service
Novak, Whitney K.
2020-06-25
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Sri Lanka [Updated June 25, 2020]
From the Document: "The Democratic Socialist Republic of Sri Lanka, known as Ceylon until 1972, is a constitutional democracy in South Asia with relatively high levels of development. It is strategically located in the Indian Ocean off the southeastern tip of India's Deccan Peninsula. The island nation was settled by successive waves of migration from India beginning in the 5th -century BC. Indo-Aryans from northern India established Sinhalese Buddhist kingdoms in the central part of the island. Tamil Hindus from southern India also settled in northeastern coastal areas and established a kingdom on the Jaffna Peninsula. Beginning in the 16th century, Sri Lanka was colonized in succession by the Portuguese, Dutch, and English."
Library of Congress. Congressional Research Service
Vaughn, Bruce, 1963-
2020-06-25
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Removal of Nazi Symbols and Inscriptions on Headstones of Prisoners of War in VA National Cemeteries [June 26, 2020]
From the Overview: "On May 12, 2020, the Military Religious Freedom Foundation's Founder and President, Michael L. Weinstein, called on Secretary of Veterans Affairs (VA), Robert Wilkie, to immediately remove three World War II-era headstones located in two VA national cemeteries. These prisoner-of-war (POW) headstones each bear the Iron Cross insignia, representing a Prussian and German military honor that included a swastika when awarded by Nazi Germany. Two of these headstones also have a German-language inscription that translates to 'He died far from his home for Führer, people and Fatherland.'"
Library of Congress. Congressional Research Service
Salazar, Heather M.; DeSantis, Mark K.; Torreon, Barbara Salazar . . .
2020-06-26
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Proposals for Systems of Records on 'Wandering Officers' [June 25, 2020]
From the Document: "Two major policing reform bills before Congress would attempt to reform law enforcement practices, especially practices that are considered to be biased against people of color. The two bills, H.R. 7120 and S. 3985, would, among other things, require state and local governments to report data on the use of force, promote the use of body-worn cameras, expand de-escalation training, and reduce racial profiling. Both pieces of legislation would also attempt to curb so-called 'wandering officers' (i.e., law enforcement officers who are fired or resign under threat of termination but are later hired by another law enforcement agency, often in another state)."
Library of Congress. Congressional Research Service
James, Nathan
2020-06-25
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Supplemental Appropriations: SBA Disaster Loan Account [June 22, 2020]
From the Document: "In response to the Coronavirus Disease 2019 (COVID-19) pandemic's widespread adverse economic impact on the national economy, Congress made COVID-19-related economy injury an eligible expense for Small Business Administration (SBA) Economic Injury Disaster Loans (EIDL). Congress also provided SBA an additional $20 million for SBA disaster assistance administrative expenses (P.L. 116- 123, Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020). At that time, the SBA had about $1.1 billion in its disaster loan credit subsidy account to support about $7 billion in disaster loans. These funds are available until expended and are used to pay for disaster loan defaults and related expenses."
Library of Congress. Congressional Research Service
Lindsay, Bruce R.; Nagel, Jared C.; Dilger, Robert Jay, 1954-
2020-06-22
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Israel's Possible Annexation of West Bank Areas: Frequently Asked Questions [June 29, 2020]
From the Summary: "Israeli Prime Minister Binyamin Netanyahu has stated his intent for Israel to annex parts of the West Bank in 2020. Annexation could raise issues for Congress, and varying congressional views on the subject have contributed to debate about implications for U.S.-Israel relations. Congress may conduct additional oversight of Trump Administration actions and could modify or place conditions on U.S. funding for Israel, the Palestinians, and various international organizations. [...] Some answers to frequently asked questions in this report address key points of historical context and U.S. policy, how annexation might affect existing realities, and various factors that could influence Israeli decisions on annexation. Considerable debate within Israel focuses on whether the risks of annexation are justified by benefits beyond those that Israel already has from its de facto control over the West Bank areas in question."
Library of Congress. Congressional Research Service
Zanotti, Jim
2020-06-29
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Hydrogen in Electricity's Future [June 30, 2020]
From the Introduction: "This report is focused on the current and potential sources of hydrogen, and several of the various technologies and processes for its economic production and use. Replacing fossil fuels with hydrogen for the generation of electricity may provide one potential avenue for reducing GHG [greenhouse gas] emissions. However, hydrogen production and technologies to use hydrogen as a fuel for power generation currently present higher cost options, if the potential negative externalities of carbon dioxide emissions are not considered."
Library of Congress. Congressional Research Service
Campbell, Richard J.
2020-06-30
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Iran's Nuclear Program: Tehran's Compliance with International Obligations [Updated June 29, 2020]
From the Summary: "This report provides a brief overview of Iran's nuclear program and describes the legal basis for the actions taken by the IAEA [International Atomic Energy Agency] board and the Security Council."
Library of Congress. Congressional Research Service
Kerr, Paul K.
2020-06-29
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Foxes, Henhouses, and Pension Plans: Supreme Court Concludes Pensioners Receiving Promised Benefits Can't Sue for Retirement Plan Mismanagement [June 30, 2020]
From the Document: "In early June 2020, the Supreme Court handed down its decision in 'Thole v. U.S. Bank' concerning the ability of pension plan participants to sue plan fiduciaries who engage in alleged misconduct. In 'Thole,' the Court's majority held, in a 5-4 decision, that pensioners receiving the full amount of their retirement benefits lacked standing to sue plan fiduciaries for self-dealing and mismanagement of pension plan investments. This Legal Sidebar provides background on federal pension plan regulation under the Employee Retirement Income Security Act (ERISA) and standing to sue in federal courts; discusses the Court's decision in 'Thole'; and concludes with selected legal considerations for Congress."
Library of Congress. Congressional Research Service
Staman, Jennifer A.
2020-06-30
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Latin America and the Caribbean: U.S. Policy Overview [Updated July 1, 2020]
From the Document: "U.S. interests in Latin America and the Caribbean are diverse and include economic, political, security, and humanitarian concerns. Geographic proximity has ensured strong economic linkages between the United States and the region, with the United States a major trading partner and source of foreign investment for many countries. Free-trade agreements (FTAs) have augmented U.S. economic relations with 11 countries in the region. The Western Hemisphere is a large source of U.S. immigration, both legal and illegal; with proximity and economic and security conditions the major factors driving migration trends."
Library of Congress. Congressional Research Service
Sullivan, Mark P.
2020-07-01
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Latin America and the Caribbean: Impact of COVID-19 [Updated July 10, 2020]
From the Document: "The Coronavirus Disease 2019 (COVID-19) pandemic is having widespread economic, social, and political effects on Latin America and the Caribbean, a region with strong congressional interest because of deep U.S. linkages. As of July 10, 2020, the region had almost 3.2 million confirmed cases and over 138,000 deaths, with deaths surging in several countries. Brazil, Mexico, Peru, Chile, and Ecuador have the highest numbers of deaths in the region, and Brazil has the highest number worldwide after the United States."
Library of Congress. Congressional Research Service
Sullivan, Mark P.; Beittel, June S.; Meyer, Peter J. . . .
2020-07-10
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Israel and the Palestinians: Chronology of a Two-State Solution [Updated June 30, 2020]
From the Document: "The idea of a two-state solution to the Israeli-Palestinian conflict developed gradually in the years after Israel captured the West Bank and Gaza Strip in the 1967 Arab-Israeli war. This product highlights the evolution of this idea. In 2002, U.S. policy became explicitly supportive of creating a Palestinian state alongside Israel. Since then, unsuccessful negotiating efforts and other developments have led many observers to doubt the viability of a twostate solution. Analysts debate whether the Trump Administration's 2020 release of the Administration's 'Vision for Peace' will help or hinder the parties in resolving core issues of dispute (security, borders, settlements, Jerusalem, Palestinian refugees). The plan sets some arguably difficult preconditions for a future Palestinian state, and could permit Israeli annexation of some West Bank areas--primarily Israeli settlements and the Jordan Valley."
Library of Congress. Congressional Research Service
Zanotti, Jim
2020-06-30
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Foreign Corrupt Practices Act (FCPA): An Overview [June 29, 2020]
From the Document: "The Foreign Corrupt Practices Act (FCPA) of 1977 generally prohibits corrupt payments to foreign officials in exchange for obtaining or retaining business. Congress enacted the FCPA in response to an investigation conducted by the Securities and Exchange Commission (SEC) following the Watergate scandal. That investigation revealed that U.S. companies had spent hundreds of millions of dollars bribing foreign officials to secure business abroad. The FCPA targets such practices through both anti-bribery and accounting provisions."
Library of Congress. Congressional Research Service
Vanatko, Nicole
2020-06-29
