The "Restore Trust in Congress Act" would prohibit members of Congress, their spouses, and dependent children from owning or trading individual stocks, commodities, futures, and similar investments while in federal service. The bill provides a 180-day deadline for current members to divest of such holdings and a 90-day deadline for newly elected members, with allowances for certain exempt investments like diversified mutual funds, U.S. Treasury securities, and real estate. Violations would result in penalties of 10 percent of the investment's value plus forfeiture of any profits from prohibited trades, with penalties payable to the Treasury and publicly disclosed by ethics offices. The legislation includes limited exceptions for family trusts and investments acquired through inheritance or marriage, as well as an occupational exception allowing spouses or children to trade investments as part of their primary jobs, and it leverages the existing tax certificate of divestiture program to help covered individuals avoid capital gains taxes on required sales.
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