This bill prohibits the President, the Vice President, immediate family members of either, or a significant business interest of such individuals from contracting with the federal government or receiving federal funds, with limited exceptions. Such exceptions include, among other things (1) a contract or agreement with the federal government entered into or negotiated before or after the period in which the President or the Vice President serves in office; and (2) a contract for employment with the federal government or a contract for service in the Armed Forces, or any benefits provided under such employment or service.