; or (2) 20 percent of the total revenue of the entity from Federal sources. (b) Requirement Each covered contractor shall, on an annual basis, submit to the Director of the Office of Public Integrity and the Administrator of the Office of Federal Procurement Policy— (1) any audited financial statements of the covered contractor; (2) a listing of the salaries of employees of the covered contractor providing services on Federal contracts that are compensated over $100,000 per year; (3) a detailed list of all Federal political spending by the covered contractor; and (4) the identity of each beneficial owner of the covered contractor, including— (A) name; (B) current residential or business street address; and (C) whether the beneficial owner is a foreign person. (c) Penalty The Director of the Office of Management and Budget may— (1) in consultation with the Administrator of the Office of Federal Procurement Policy and the Director of the Office of Public Integrity, temporarily or indefinitely disqualify a covered contractor from receiving a Federal contract if the Director of the Office of Management and Budget determines that the covered contractor failed to comply with the requirement under subsection (b); and (2) reinstate the ability of a covered contractor described in paragraph (1) to receive a Federal contract. E Congressional Transparency 641. Increased transparency of committee work (a) Definitions In this section— (1) the term Committee means— (A) a committee of the House of Representatives; (B) a committee of the Senate; and (C) a subcommittee of a committee described in paragraph (1) or (2); (2) the term covered hearing means a public hearing held by a Committee