To amend chapter 131 of title 5, United States Code, to prevent Members of Congress and their spouses and dependent children from trading stocks and owning stocks, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill creates amendment to title 5 adding new chapter requiring placement of covered investments in qualified blind trusts and defining core terms for congressional stock trading ban, creates definitions section for new Chapter 131 title establishing scope of covered investments, exemptions for diversified funds and government securities, and defining covered persons, and creates prohibition on purchase and sale of covered investments by Members of Congress and their spouses/dependents, with limited exceptions for divestiture timelines and new Members. It relies on mandate, prohibition, reporting requirements, and penalty. The main policy areas are Congressional Ethics and Finance.
Who Benefits and How
Qualified blind trust service providers could gain revenue opportunities, General public and transparency organizations could face fewer barriers, and Blind trust administrators and financial advisors could gain revenue opportunities.
Who Bears the Burden and How
Members of Congress would take on compliance duties, Spouses and dependent children of Members would take on compliance duties, and Reporting individuals under STOCK Act could face higher costs.
Key Provisions
- Creates amendment to title 5 adding new chapter requiring placement of covered investments in qualified blind trusts and defining core terms for congressional stock trading ban.
- Creates definitions section for new Chapter 131 title establishing scope of covered investments, exemptions for diversified funds and government securities, and defining covered persons.
- Creates prohibition on purchase and sale of covered investments by Members of Congress and their spouses/dependents, with limited exceptions for divestiture timelines and new Members.
- Requires requirements for Members to certify divestiture or blind trust placement within 120 days, with provisions for hardship extensions and spouse compliance.
- Creates amendment to STOCK Act adding mandatory dollar500 fine per failure to file transaction report, deposited to Treasury miscellaneous receipts.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill creates amendment to title 5 adding new chapter requiring placement of covered investments in qualified blind trusts and defining core terms for congressional stock trading ban, creates definitions section for new Chapter 131 title establishing scope of covered investments, exemptions for diversified funds and government securities, and defining covered persons, and creates prohibition on purchase and sale of covered investments by Members of Congress and their spouses/dependents, with limited exceptions for divestiture timelines and new Members.
Key Policy Areas
Congressional Ethics, Finance
Primary Purpose
The bill creates amendment to title 5 adding new chapter requiring placement of covered investments in qualified blind trusts and defining core terms for congressional stock trading ban, creates definitions section for new Chapter 131 title establishing scope of covered investments, exemptions for diversified funds and government securities, and defining covered persons, and creates prohibition on purchase and sale of covered investments by Members of Congress and their spouses/dependents, with limited exceptions for divestiture timelines and new Members.
Policy Domains
Section 2 / New Chapter 131 - Investment Restrictions for Members
Identified Gains
- Qualified blind trust service providers
- General public and transparency organizations
- Blind trust administrators and financial advisors
- U.S. Treasury
Identified Costs
- Members of Congress
- Spouses and dependent children of Members
- Reporting individuals under STOCK Act
- Members of Congress who fail to report transactions
- Congressional ethics offices
Sponsors
Legislative Progress
IntroducedMr. Krishnamoorthi (for himself, Mr. Cloud, Ms. Ocasio-Cortez, Mr. Neguse, …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Congressional ethics offices, House and Senate administrative offices, Members of Congress
Positive-direction: U.S. Treasury
Negative-direction: Congressional ethics offices, House and Senate administrative offices, Members of Congress, Members of Congress who fail to report transactions, Reporting individuals under STOCK Act
Blind trust administrators and financial advisors, Qualified blind trust service providers
General public and transparency organizations, Spouses and dependent children of Members
Positive-direction: General public and transparency organizations
Negative-direction: Spouses and dependent children of Members
Brokerage firms serving congressional clients
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "covered_person"
- → Spouses and dependent children of Members
- "member_of_congress"
- → Sitting Members of the House and Senate
- "supervising_ethics_office"
- → House/Senate Ethics Committees
- "supervising_ethics_office"
- → House/Senate Ethics Committees
- "congress"
- → House and Senate
Key Definitions
Terms defined in this bill
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
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