Providing for consideration of the bill (H.R. 1908) to prohibit stock trading and ownership by Members of Congress and their spouses and dependent children, and for other purposes.

Key Points

• This resolution would bring H.R. 1908 to the House floor for a vote. Known as the Restore Trust in Congress Act, it would ban Members of Congress, their spouses, and dependent children from owning or trading individual stocks, commodities, futures, and derivatives.
• Current members would have 180 days to sell off their covered investments, while newly elected members would get 90 days. They can apply for certificates of divestiture that allow them to defer capital gains taxes on forced sales, similar to what executive branch officials use.
• Members could still invest in diversified, publicly traded funds (like index funds and ETFs), U.S. Treasury bonds, state and municipal bonds, and keep interests in small businesses or personal real estate LLCs. Spouses and children working in finance could still trade stocks as part of their jobs.
• Violators would face a penalty of 10% of the investment's value and must give up any profits from illegal trades. These fines cannot be paid with office budgets or campaign donations — members must pay out of pocket.
• All fines, the reasons behind them, and their outcomes would be posted publicly online, creating a transparency mechanism so voters can see which lawmakers break the rules.

Votes

No votes have been recorded for this legislation yet.