119th (2025–2027)
H.R. 4890
The ETHICS Act prohibits members of Congress, their spouses, and dependent children from directly buying and selling stocks and other covered investments, requiring them to either sell existing holdings within 90 days or place them in qualified blind trusts managed by independent trustees who must divest the assets within 120 days. The bill imposes strict restrictions on communication between members and trustees, establishes escalating civil penalties for violations (ranging from monthly congressional salary to 10 percent of an investment's value), and adds $500 fines for each failure to file required transaction reports. To increase transparency, the legislation requires Congress to make all financial disclosure and transaction reports publicly available online in searchable, downloadable formats within 18 months of enactment, accessible by member name, asset type, and transaction details, while also complying with federal accessibility standards. The bill also directs ethics offices to update their regulations within one year to implement these new requirements. Overall, the bipartisan measure aims to prevent members of Congress from using their position for personal financial gain while improving public oversight of congressional finances.