Turn Off Federal Funding of Threatening Entities that Thwart American Prosperity Act or the Turn OFF THE TAP Act This bill prohibits certain entities from receiving federal funds or contracts from an executive agency. Specifically, this prohibition applies to (1) entities listed as specially designated nationals and blocked persons by the Office of Foreign Assets Control (OFAC) of the Department of the Treasury, (2) certain entities on the OFAC's Non-SDN Chinese Military-Industrial Complex Companies List, (3) entities identified on a Department of Defense list of Chinese military companies operating in the United States, (4) entities on the entity list maintained by the Bureau of Industry and Security of the Department of Commerce, and (5) entities identified by the Federal Communications Commission as a telecommunications equipment or service provider that pose an unacceptable risk to U.S. national security.