H.R. 5359 would strengthen ethics rules for top federal officials by requiring the President, Vice President, and cabinet members to file financial disclosure reports twice per year instead of annually, beginning in 2026. The bill would also expand disclosure requirements to include the financial interests of close relatives—including spouses, children, and extended family—of these high-ranking officials. Additionally, the legislation would prohibit the President and Vice President from owning stakes in for-profit businesses, using their names or likenesses for commercial gain, or serving in decision-making roles at companies; they would be required to divest any business interests within 30 days of taking office. The bill also restricts gifts given to the President or Vice President in connection with their official duties from being used or retained. These provisions would be enforced through civil penalties, and retirement accounts would be exempt from the divestment requirements.
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