The Public Service Accountability Act
Sponsored By: Representative Goodlander, Maggie [D-NH-2]
Introduced
Summary
Bars high-level officials and close family from owning or trading certain private or synthetic investments. It would define covered people and assets, set timed divestiture rules, and create fines plus public reporting.
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- Covered officials would include the President, the Vice President, Members of Congress, judges, senior executives, and Schedule C policy officials. Those already holding prohibited investments would have 180 days to divest, and new covered individuals would have 90 days.
- Spouses and dependent children are included. Assets acquired after enactment by marriage, inheritance, or divorce must be sold within 90 days.
- Enforcement would require disgorging illicit profits and paying a fine equal to 10 percent of the covered investment's value to the Treasury. Supervising ethics offices must publish each assessed fine and the reason.
*Would direct penalties and disgorged profits to the Treasury, which would increase federal receipts.*
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 1 benefits, 1 costs, 1 mixed.
Trading ban and penalties for officials
If enacted, covered individuals would not be able to buy or hold certain stocks, commodities, futures, derivatives, or similar investments while in Federal service. The bill would require those holdings to be sold at fair market value—usually within 180 days for people covered on enactment and 90 days for people who become covered later or who receive assets by marriage, inheritance, or divorce. Supervising ethics offices would issue certificates of divestiture (which name the sold properties) and would publish guidance and any fines. Violations could bring a fine equal to 10% of the investment's value plus disgorgement of profits, with penalty payments going to the U.S. Treasury; Members could not use office allowances or campaign funds to pay those fines.
General Schedule federal employees excluded
If enacted, the bill would say it does not apply to employees in positions under the General Schedule. That means federal workers paid on the GS scale would not have to follow the trading, ownership, or divestiture rules in this bill.
Who counts as a covered official
If enacted, the bill would list who is a "covered individual." It would include Members of Congress and congressional staffers, the President and Vice President (and their spouses and dependent children), certain judges and judicial employees, senior executive officials (Executive Schedule levels 1–6), Schedule C appointees, special Government employees, and several other named categories. People in these groups would be subject to the trading, ownership, and divestiture rules in the bill.
Sponsors & CoSponsors
Sponsor
Goodlander, Maggie [D-NH-2]
NH • D
Cosponsors
Rep. Fitzpatrick, Brian K. [R-PA-1]
PA • R
Sponsored 6/24/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov