Restore Trust in Government Act
House Committee Reviews Bill Banning Congress Members, President From Owning Individual Stocks
Stalled
No legislative action in over 90 days.
Legislative Progress
Key Points
- Would bar Members of Congress, the President, the Vice President, and their spouses and dependent kids from owning or trading most individual stocks and similar investments.
- People covered would have to sell (divest) any banned investments within 180 days if already in office when it becomes law, or within 90 days after they enter office.
- Allows some common investments, like diversified funds and government bonds, and keeps certain exceptions like small business ownership and some family farm/ranch-related investments.
- Creates penalties for breaking the rules: a fee equal to 10% of the investment’s value plus giving up any profits from illegal trades, with fines publicly posted online.
- Spouses or dependent children can still trade as part of their main job (for example, if they work in finance), as long as the official doesn’t own the investment.
Impact Analysis
Personal Impact
How this policy affects specific groups of people
Milestones
Referred to the Committee on Oversight and Government Reform, and in addition to the Committees on House Administration, and Ways and Means, 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.
News
Congressional stock trade ban remains at the forefront after 20 years
Pete Ricketts introduces legislation banning congressional stock trades
Popular reforms keep dying in Congress -- thanks to the old guard
Pelosi isn't alone -- Congress is a trading floor
Group of House Democrats introduce new stock trading bill
Source Information
Document Type
Congressional Bill
Official Title
Restore Trust in Government Act
Data Sources
Sponsor
Cosponsors
(65)Political Response
Analysis generated by AI. Always verify with official sources.