David Vitter: “It simply increases penalties--I think appropriately--for willful and knowing misrepresentations on financial disclosure…”

“It simply increases penalties--I think appropriately--for willful and knowing misrepresentations on financial disclosure reports. As you know, many people in Government, including U.S. Senators, have to file financial disclosure statements. That is section 101 of the Ethics in Government Act of 1975. It is very basic information about not every detail of our finances, but the broad brush of an individual's finances. This applies to others, certainly, in the administration, executive branch, as well as some in the judicial branch. Section 104 of that act is about the penalties. That says the Attorney General can file a civil suit against any individual who knowingly and willfully falsifies that sort of document or knowingly and willfully fails to report that information. But the maximum fine under that civil suit is $10,000. Mr. President, this can literally be a slap on the wrist in certain situations. This can literally encourage people to falsify documents or not report certain information completely or properly because, No. 1, that figure will never be noticed or caught; No. 2, worst case, if it is, it is only $10,000. It may be worth paying that and trying to get away with it versus disclosing certain information. That is unacceptable.”