Restore Trust in Congress Act

Key Points

• This bill would stop Members of Congress, their spouses, and their dependent children from owning or trading individual stocks, commodities, or futures. The goal is to prevent lawmakers from using private information to make money or passing laws that benefit their personal investments.
• Lawmakers who already own these types of investments would have to sell them within 180 days after the law passes. People who are elected to Congress in the future would have 90 days to sell their stocks once they take office.
• The bill allows some exceptions for common, low-risk investments like diversified mutual funds, U.S. Treasury bonds, and interests in small businesses. Spouses are also allowed to trade stocks if it is a required part of their professional job.
• If a lawmaker breaks these rules, they must pay a fine equal to 10% of the investment's value and give up any profits they made from the trade. These fines would be paid to the U.S. Treasury and cannot be paid using campaign money or official office funds.
• To keep things transparent, the government would be required to post a list of all fines and the reasons they were issued on a public website for anyone to see.

Votes

No votes have been recorded for this legislation yet.

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