Congress creates cash rewards for reporting COVID loan fraud
H.R. 7412 — Put America on Commission Act of 2026 · Filed by Roger Williams (R-TX) · 1 cosponsor · Introduced Feb 5, 2026 · Reported out
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What it does
This bill creates a new Office of Whistleblower Awards within the Small Business Administration to pay cash rewards to people who report fraud or financial misconduct by recipients of COVID-era small-business loans. Whistleblowers who provide original information leading to criminal convictions or settlement agreements receive 10–15% of the money recovered from wrongdoers, funded by a revolving Whistleblower Award Fund. The program sunsets once all COVID loan fraud cases are resolved.
Why we flagged it
The bill's core mechanism is a reward system for reporting COVID loan fraud, funded by recoveries from wrongdoers. It is a public-accountability measure, not a subsidy, tax break, or deregulation.
What the text implies
- The 'most substantial contribution' rule (paragraph 3) means only one whistleblower per case receives an award, even if multiple people provided critical information. This may discourage reporting by team members or secondary sources.
- The definition of 'original information' excludes information derived from news media, government reports, or judicial filings unless the whistleblower is the original source. This creates a high bar and may exclude corroborating evidence.
The full analysis lists 5 implications of this text.
Who stands to gain
whistleblowers (individuals reporting fraud); U.S. Treasury (recovers civil penalties and settlement amounts)