Platform Accountability and Consumer Transparency Act or the PACT Act This bill requires providers of interactive computer services (e.g., social media companies) to publish their policy explaining the types of content permissible on the service and provide a system for users to submit complaints about content that may violate the policy or involve illegal content. Further, social media companies must establish a process for removing certain content that violates their policies and notifying the information content provider about the removal, including a mechanism to appeal the removal. Social media companies also must publish a report every six months that details the instances in which the company took action with respect to content, including removing content, deprioritizing content, and suspending content provider accounts. The bill removes certain liability protections for companies if the company has actual knowledge of illegal content on its service and does not remove it within specified time frames. The bill provides for enforcement of these requirements by the Federal Trade Commission.