Bill Overview
Title: Asset Seizure for Ukraine Reconstruction Act
Description: This bill establishes a working group to determine the legal mechanisms that may be used to seize assets belonging to certain foreign persons (i.e., individuals and entities) affiliated with Russia's political leadership and addresses related issues. The interagency working group must determine the constitutional mechanisms by which the President may take steps to seize and confiscate assets belonging to any sanctioned foreign person whose wealth is derived through support for or corruption related to the regime of Russian president Vladimir Putin. The working group must report to Congress on certain issues including (1) recommendations to impose additional energy-related sanctions on Russia's government, and (2) any additional authorities the President needs to take steps to seize and confiscate the assets. The President must report to Congress a determination as to whether to expand existing sanctions related to certain Russian government activities to cover additional persons.
Sponsors: Rep. Malinowski, Tom [D-NJ-7]
Target Audience
Population: Global individuals whose wealth is politically linked to Vladimir Putin
Estimated Size: 50
- The primary targets are individuals globally who have accumulated wealth through political support for or corruption linked to Russian President Vladimir Putin.
- This includes Russian oligarchs and other influential business persons linked to Putin's regime.
- These individuals likely reside in various countries, including Russia, and possibly hold assets in the global financial system.
Reasoning
- The policy targets assets of wealthy foreign nationals linked to corruption with the Russian regime, likely affecting only a handful of such individuals in the U.S., thus having little impact on the general American populace.
- Most Americans' wellbeing scores won't be significantly impacted directly since they do not interact with the targets of this policy.
- For those Americans who directly interact with or rely economically on these individuals, such as employees or local businesses, there might be indirect consequences.
- Accountants, lawyers, or consultants in international finance might see workflow changes due to clients' asset disruptions.
- General public sentiment might be slightly uplifted by U.S. efforts in humanitarian aid and international law adherence, but this would be a low-impact, long-term intangible change.
- Most Americans may feel indirectly impacted through solidarity or empathy towards U.S. efforts to aid Ukraine.
Simulated Interviews
Financial Consultant (New York, NY)
Age: 34 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 5/20
Statement of Opinion:
- I believe the policy will affect my clients significantly, especially those who might be linked to Russian companies.
- Personally, I support aiding Ukraine, but it's complicated because it impacts my work.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 7 |
| Year 2 | 6 | 7 |
| Year 3 | 7 | 8 |
| Year 5 | 7 | 8 |
| Year 10 | 8 | 9 |
| Year 20 | 8 | 9 |
Oil Industry Executive (Houston, TX)
Age: 45 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 4.0 years
Commonness: 8/20
Statement of Opinion:
- This could complicate investment landscapes, especially with clients holding Russian ties.
- I support legal actions that aim for global justice, but repercussions affect business decisions.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 7 |
| Year 3 | 6 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 6 | 7 |
| Year 20 | 7 | 7 |
International Law Student (Chicago, IL)
Age: 27 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 2.0 years
Commonness: 9/20
Statement of Opinion:
- I see this as an important global legal measure that could set precedents.
- I don't expect direct personal impact, maybe a heightened interest in my field of study.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 9 | 8 |
| Year 5 | 9 | 8 |
| Year 10 | 9 | 8 |
| Year 20 | 9 | 8 |
Retired Diplomat (Washington, D.C.)
Age: 60 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 0.0 years
Commonness: 3/20
Statement of Opinion:
- This policy is a diplomatic tool, affects how international relations are shaped.
- I think it's necessary but requires careful consideration.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 7 | 7 |
| Year 20 | 7 | 7 |
Tech Developer (San Francisco, CA)
Age: 39 | Gender: other
Wellbeing Before Policy: 8
Duration of Impact: 0.0 years
Commonness: 7/20
Statement of Opinion:
- Direct impact is minimal, but I follow these issues closely due to industry trends.
- Humanitarian efforts are vital, any destabilization in markets can trickle to tech investments.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 8 | 8 |
| Year 5 | 8 | 8 |
| Year 10 | 8 | 8 |
| Year 20 | 8 | 8 |
Anti-Corruption Activist (Miami, FL)
Age: 55 | Gender: female
Wellbeing Before Policy: 9
Duration of Impact: 20.0 years
Commonness: 4/20
Statement of Opinion:
- This policy aligns with my values; it's a strong stance against corruption.
- While I don't expect a direct effect, indirect satisfaction from justice might enhance my wellbeing slightly.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 9 | 9 |
| Year 2 | 9 | 9 |
| Year 3 | 9 | 9 |
| Year 5 | 9 | 9 |
| Year 10 | 9 | 9 |
| Year 20 | 9 | 9 |
Media Producer (Los Angeles, CA)
Age: 30 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 0.0 years
Commonness: 6/20
Statement of Opinion:
- This could inspire new content, helping raise awareness of such policies.
- The direct impact on my work isn't huge unless media focus shifts significantly.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 6 |
| Year 3 | 6 | 6 |
| Year 5 | 6 | 6 |
| Year 10 | 6 | 6 |
| Year 20 | 6 | 6 |
University Student (Boston, MA)
Age: 24 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 5.0 years
Commonness: 8/20
Statement of Opinion:
- Feels like my activism resonates with policies like this, sees potential global impact.
- Happy with the U.S. standing for Ukraine, but personal effects are more emotional than practical.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 9 | 8 |
| Year 5 | 9 | 8 |
| Year 10 | 9 | 8 |
| Year 20 | 9 | 8 |
International Trade Analyst (Seattle, WA)
Age: 48 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 3.0 years
Commonness: 5/20
Statement of Opinion:
- I view this as a step towards accountability in international trade and politics.
- Could see some auxiliary economic impacts as asset seizures flow through financial markets.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 8 |
| Year 5 | 8 | 8 |
| Year 10 | 8 | 8 |
| Year 20 | 8 | 8 |
Real Estate Agent (Denver, CO)
Age: 52 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 2.0 years
Commonness: 6/20
Statement of Opinion:
- Minimal direct impact, though some international clients might reconsider investing here.
- Positive to see U.S involvement in helping Ukraine.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 7 | 7 |
| Year 20 | 7 | 7 |
Cost Estimates
Year 1: $50000000 (Low: $30000000, High: $70000000)
Year 2: $50000000 (Low: $30000000, High: $70000000)
Year 3: $0 (Low: $0, High: $0)
Year 5: $0 (Low: $0, High: $0)
Year 10: $0 (Low: $0, High: $0)
Year 100: $0 (Low: $0, High: $0)
Key Considerations
- The success of the asset seizure program hinges on interagency coordination and international cooperation.
- Potential legal challenges or diplomatic repercussions could arise from seized assets belonging to foreign nationals or entities.
- Ensuring proper application of funds consistent with stated purposes will require oversight.