H.R. 10470, known as the "Political Appointee Illicit Dealings Act" or "PAID Act," aims to modify existing U.S. laws to prevent former federal officials from investing in or managing investment funds where a foreign entity has a stake, if the involvement is based on discussions that occurred...
Simple Explanation
The bill wants to stop some people who used to work for the government from making money with a foreign company if they talked to that company while they still had their government job. It makes sure they don't use those talks to secretly make big business deals after they leave their job.