The proposed legislation mandates that sitting members divest their individual stock holdings within 180 days, while newly elected representatives must clear their portfolios before taking office. Those failing to comply face penalties equivalent to 10% of the asset's value. The bill, backed by an ideologically broad coalition including Reps. Alexandria Ocasio-Cortez (D-N.Y.) and Chip Roy (R-Texas), targets a wide range of assets, including cryptocurrency, to ensure comprehensive enforcement.
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Bipartisan House Coalition Moves to Ban Congressional Stock Trading
A diverse group of lawmakers has introduced the Restore Trust in Congress Act, a measure designed to prohibit federal representatives and their immediate families from holding or trading individual stocks. The bill aims to close loopholes that critics argue allow members to profit from non-public information gained during their legislative duties.
Advocacy groups like Public Citizen and the Campaign Legal Center have endorsed the move, labeling it a necessary step to restore institutional integrity. Critics of the status quo argue that existing ethics laws, such as the 2012 STOCK Act, provide insufficient oversight. By forcing a clean break from individual stock ownership, proponents believe Congress can finally eliminate the appearance of self-dealing and prioritize public interest over personal financial gain.
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