No Corruption in Government Act
Rep. Nunn and Rep. Perez Push Bill to Ban Congressional Stock Trading and Extend Lobbying Limits
Stalled
No legislative action in over 90 days.
Legislative Progress
Key Points
- This bill would stop members of Congress and their spouses from owning or trading individual stocks, futures, or commodities. To avoid conflicts of interest, they would only be allowed to invest in broad options like mutual funds or use "blind trusts" where they have no say in what is bought or sold.
- The proposal significantly increases the "cooling off" period before a former lawmaker can work as a lobbyist. Former Senators would have to wait six years instead of two, and former House members would have to wait three years instead of one before they can try to influence their former colleagues.
- It would end automatic yearly pay raises for members of Congress. Currently, their pay can go up automatically to keep up with the cost of living, but this bill would require a specific law to be passed whenever they want a raise.
- Lawmakers who break the stock trading rules would be forced to give any profits they made to the U.S. Treasury. They would also be blocked from using any losses from those trades to lower their taxes and could be hit with expensive civil fines.
Impact Analysis
Personal Impact
Life & Work
Members of Congress would lose the ability to trade individual stocks, securities futures, and commodities — and their spouses would face the same restrictions. This is a significant change to how lawmakers manage their personal finances while in office. They would also lose automatic cost-of-living pay adjustments, meaning their salary would stay flat unless Congress specifically votes itself a raise.
Activities
Milestones
Referred to the Committee on House Administration, and in addition to the Committees on Ways and Means, the Judiciary, and Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
Related News
2 articles
Is it time to ban Congressional stock trading?
The No Corruption in Government Act, introduced by Rep. Zachary Nunn (R-IA), is one of several measures aimed at ethics reform. It specifically targets the 'insider advantage' by banning stock trading while allowing qualified blind trusts, alongside ending automatic pay adjustments for lawmakers.
Investing in the US: Profit, patriotism and populism
Bipartisan legislation—the No Corruption in Government Act—was introduced to prohibit insider trading by members of Congress and their spouses. The bill follows investigations showing that roughly 20 percent of Congress members bought or sold stocks where they may have had a conflict of interest.
Source Information
Document Type
Congressional Bill
Official Title
No Corruption in Government Act
Data Sources
Sponsor
Cosponsors
(2)Analysis generated by AI. Always verify with official sources.