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Congress·Reported·H.R. 7008

Rep. Steil Pushes Stop Insider Trading Act to Ban Members of Congress From Buying Stocks

Stop Insider Trading Act

about 2 months ago·View on Congress.gov
Part of: Stop Insider Trading Act

Legislative Progress

House
Senate
President
Law

Key Points

  • This bill would ban Members of Congress, their spouses, and dependent children from purchasing individual stocks while in office. The goal is to prevent lawmakers from profiting off private information they gain through their government roles.

    From policy text

    “no covered individual may purchase a covered investment”
    View in full text
  • Lawmakers who want to sell stocks they already own must publicly disclose their intent at least 7 days (and no more than 14 days) before the sale, including the number of shares and projected sale date. These notices would be posted on official congressional websites.

    From policy text

    “No covered individual shall sell a covered investment, unless a notice of intent to sell the covered investment is made by the Member of Congress and publicly disclosed at least 7 calendar days, and no more than 14 calendar days, prior to the sale”
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  • Common pooled investments like mutual funds, index funds, and diversified investment vehicles are exempt. Small business interests and qualified blind trusts where the lawmaker has no control over the trustee are also excluded.
  • Violations carry a fee of $2,000 or 10% of the transaction value, whichever is higher, plus any profits made on the illegal trade. Members must also sell any stock purchased in violation of the ban.

    From policy text

    “$2,000 or ten percent of the value of the transaction in the covered investment which violates section 13152, whichever is greater”
    View in full text
  • Lawmakers cannot pay these fines using taxpayer-funded office budgets or campaign donations — the penalty must come out of their own pocket. Members who resign or retire before paying can be referred to the Department of Justice.
  • If enacted, the new restrictions would take effect 180 days after signing, giving members and their families roughly six months to restructure their portfolios or move holdings into compliant vehicles like blind trusts or diversified funds.

    From policy text

    “The amendments made by this Act shall take effect on the date that is 180 days after the date of enactment of this Act.”
    View in full text
Economy FinanceCriminal Justice

Impact Analysis

Personal Impact

Scores: 1 = low, 5 = highSentiment: -5 to +5 (net benefit)

Political Response

Milestones

3 milestones6 actions
Feb 3, 2026House

Placed on the Union Calendar, Calendar No. 409.

Feb 3, 2026House

Reported (Amended) by the Committee on House Administration. H. Rept. 119-479.

Jan 14, 2026House

Ordered to be Reported (Amended) by the Yeas and Nays: 7 - 4.

Jan 14, 2026House

Committee Consideration and Mark-up Session Held

Jan 12, 2026House

Referred to the House Committee on House Administration.

What Happens Next

Projected impacts based on AI analysis

180 days after enactment

New stock restrictions take effect for all members of Congress and their families

Members can no longer buy individual stocks and must give 7 days public notice before selling existing holdings. Families have had 6 months to restructure portfolios.

4 Articles

Washington ExaminerCenter Right

Pete Ricketts introduces legislation banning congressional stock trades

Washington ExaminerCenter Right

Pelosi isn't alone -- Congress is a trading floor

NewsCenter

Group of House Democrats introduce new stock trading bill

news_articleCenter

Congress is taking stock of proposed ethics rules

Source Information

Document Type

Congressional Bill

Official Title

Stop Insider Trading Act

Bill NumberHR 7008
Congress119th Congress
ChamberHouse of Representatives
Latest ActionPlaced on the Union Calendar, Calendar No. 409.

Sponsor

Cosponsors

(93)
D: 2R: 91

Analysis generated by AI. Always verify with official sources.