Legislation1w ago
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To authorize implementation grants to community-based nonprofits to operate one-stop reentry centers.
HR8548Rep. Kamlager-Dove, Sydney [D-CA-37] (D-CA)
introduced
S1498119th CongressWALLET
Halting Ownership and Non-Ethical Stock Transactions (HONEST) Act
Sponsored By: Senator Josh Hawley
In Committee
Summary
Ban on covered investments for top federal officials. This bill would create the Halting Ownership and Non‑Ethical Stock Transactions (HONEST) Act to bar many individual financial holdings by the President, Vice President, Members of Congress, and their families. It would force divestitures, restrict new and existing qualified blind trusts, expand searchable public financial disclosures, and set civil penalties for noncompliance.
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- Members of Congress, the President, and the Vice President would be prohibited from acquiring defined "covered investments" and face cooling‑off rules that bar control or new purchases until 90 days after leaving office. They must divest existing covered investments on the timetables the bill sets.
- Spouses and dependent children are brought under the rules. A legal guardian may hold or trade for a dependent child only if the total value stays below $10,000 and some family exceptions and spouse income exclusions are specified.
- Supervising ethics offices and trustees must publish notices, extension requests, dissolution notices, and penalties online and provide searchable electronic filing and public access 18 months after enactment. Civil penalties can include a formula equal to about 10 percent of undivested asset value.
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 1 benefits, 2 costs, 0 mixed.
New investment bans for officials
If enacted, covered federal officials and their spouses and dependent children would be barred from buying many types of investments on the date of enactment. If enacted, they would have to divest covered investments by deadlines that differ for those sworn in before or after enactment and that allow limited extensions. If enacted, inherited covered investments must be divested within 120 days (extensions up to 150 days total and no single extension over 45 days). If enacted, qualified blind trusts would have to be dissolved and trustees must sell covered investments within 180 days after the applicable effective date. If enacted, a guardian could hold or trade for a dependent child only when the dependent's total covered investments are $10,000 or less.
Stronger fines for ethics violations
If enacted, supervising ethics offices could assess recurring civil penalties for officials who fail to divest or who improperly acquire covered investments. If enacted, penalties would begin 30 days after a written notice and could be charged at least once every 30 days while noncompliance continues. If enacted, each monthly penalty could equal the greater of one month's pay or 10% of the value of each undivested covered investment. If enacted, the STOCK Act would also add a $500 fine for each missed or late transaction report or amendment, effective March 31, 2027, with fines paid into the Treasury's miscellaneous receipts.
More public disclosure of officials' finances
If enacted, the House and Senate would have to publish searchable, downloadable databases of financial disclosure and transaction reports and related notices. If enacted, those databases would let users search by filer name, asset, transaction type, ticker, date, and amount, must provide an API, and must meet Section 508 and WCAG accessibility rules. If enacted, the requirement would take effect 18 months after enactment. If enacted, supervising ethics offices would also publish submitted notices, extension requests and responses, blind trust dissolution notices (within 30 days), civil penalties, and other documents on their public websites. If enacted, covered persons would have to report some Federal payments to ethics offices within 30 days after notice of application or receipt and no later than 45 days after a payment is made or promised.
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Sponsors & CoSponsors
Sponsor
Josh Hawley
MO • R
Cosponsors
Sen. Moreno, Bernie [R-OH]
OH • R
Sponsored 4/28/2025
Sen. Ossoff, Jon [D-GA]
GA • D
Sponsored 7/30/2025
Gary Peters
MI • D
Sponsored 7/30/2025
Sen. Merkley, Jeff [D-OR]
OR • D
Sponsored 12/9/2025
Sen. Cortez Masto, Catherine [D-NV]
NV • D
Sponsored 4/28/2026
Roll Call Votes
No roll call votes available for this bill.
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