Restore Trust in Congress Act
Sponsored By: Senator Ashley Moody
Introduced
Summary
Ban on owning or trading certain investments by Members of Congress and their spouses and dependent children. This bill would bar covered individuals from buying or holding "covered investments" like securities, commodities, futures, and synthetic equivalents and sets deadlines, exemptions, and enforcement rules for divestiture.
Show full summary
- Members, spouses, and dependent children would have to divest covered investments. Those covered on enactment get 180 days to divest and those who become covered later get 90 days. Widely held public funds, U.S. Treasuries, state and municipal bonds, small business interests, and certain Alaska Native settlement stock are excluded.
- Trusts and special acquisitions get specific rules. Qualified blind trusts must be divested by the deadline. Family trusts can be exempt if a noncovered family member is the grantor and did not contribute the investment. Acquisitions by inheritance, marriage, or divorce settlements must be divested within 90 days.
- Ethics offices handle compliance and penalties. Supervising ethics offices issue certificates of divestiture, can grant extensions for low liquidity or contractual limits, and must publish fine descriptions. Violations can trigger disgorgement of profits and a civil fee equal to 10 percent of the investment’s value. Senators and Members cannot pay penalties from specified official or campaign funds.
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Bill Overview
Analyzed Economic Effects
5 provisions identified: 2 benefits, 3 costs, 0 mixed.
Ban on trading for Congress members
If enacted, this bill would stop Members of Congress, their spouses, and dependent children from buying or owning many securities, commodities, futures, or derivatives while serving. It would exclude common items like U.S. Treasuries, state and local bonds, widely held public funds, some small business and residence LLC interests, and certain Alaska Native stock. People covered on enactment would have 180 days to sell covered investments. People who become covered later, or who receive investments by marriage or inheritance, would have 90 days to sell. Ethics offices could grant short extensions for low liquidity, vesting, or contract limits, and would set rules for family trusts and occupational exceptions.
Civil fines and disgorgement for violators
If enacted, a supervising ethics office would be able to order a covered individual who breaks the trading or ownership rules to pay a fee equal to 10% of the covered investment's value. The office could also require disgorgement of any profits from the violating trade. Disgorged profits would be paid into the U.S. Treasury.
Tax certificate for forced divestitures
If enacted, the bill would make covered individuals eligible for Internal Revenue Code section 1043 relief when they must sell investments under this rule. A supervising ethics office would issue a certificate of divestiture after you show proof you complied with sale deadlines or got an extension. The certificate would list the specific properties eligible for that tax treatment.
Public posting of fines and guidance
If enacted, each supervising ethics office would publish on a public website the amount of every fine, the reason it was assessed, and the result. They would also issue interpretive guidance to explain any key terms that the rules did not define. This would increase transparency about enforcement.
No official funds to pay penalties
If enacted, Senators and House Members could not use certain official office accounts to pay penalties. Senators could not use the Senators' Official Personnel and Office Expense Account. House Members could not use the Members' Representational Allowance. They also could not pay penalties with campaign contributions or other donations tied to their office.
Sponsors & CoSponsors
Sponsor
Ashley Moody
FL • R
Cosponsors
Kirsten Gillibrand
NY • D
Sponsored 1/15/2026
Todd Young
IN • R
Sponsored 3/18/2026
Roll Call Votes
No roll call votes available for this bill.
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