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GovernmentH.R. 253Not Yet VotedComments

Bipartisan Restoring Faith in Government Act

Official title: To amend title 5, United States Code, to restrict trading and ownership of certain financial instruments by Members of Congress and their spouses and dependents, and for other purposes.

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How Congress Voted

What Happened in Congress?

Pending

Not yet voted on the floor.

Where the Bill Stands

  1. Introduced, done
  2. Committee, current stage
  3. Floor Vote, not yet
  4. Outcome, not yet

What This Bill Does

This bill prohibits Members of Congress (and their spouses and dependents) from purchasing or selling certain investments, such as individual stocks and related financial instruments that are not diversified investment funds, U.S. Treasury securities, or other specified holdings.

Members must divest prohibited investments within 90 days by selling them or placing them in a qualified blind trust. The bill also restricts communications between trustees and beneficiaries related to investments held in qualified blind trusts.

Members must certify their compliance with the supervising ethics office, which must make the certificates publicly available online.

Violations are subject to specified civil penalties. Additionally, losses stemming from a transaction involving a prohibited investment that violates the provisions of the bill may not be deducted from income taxes.

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Related Documents

Bill on Congress.govWeb Page ↗ (opens in a new tab)

Timeline

  1. Library of CongressIntroduced in House
  2. House floor actionsReferred to the Committee on House Administration, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
  3. Introduced
  4. Committee

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