HR7008119th CongressWALLET

Stop Insider Trading Act

Sponsored By: Representative Steil

In Committee

Summary

This bill would create new limits and public disclosure rules to prevent insider trading by Members of Congress. It would ban purchases of specified public securities and synthetic interests by Members, their spouses, and dependent children and set rules for sales and enforcement.

Bill Overview

Analyzed Economic Effects

4 provisions identified: 2 benefits, 1 costs, 1 mixed.

Ban on purchases and sale notices

If enacted, the bill would bar covered individuals from buying covered investments while they serve in federal office. Members would have to file a public notice 7 to 14 calendar days before selling a covered investment by the Member, the Member's spouse, or dependent child. The notice would need the planned sale date, a description of the sale, and the number of shares. Some transactions would be excepted, such as certain employer or fiduciary actions, transactions done on behalf of another person, and dividend reinvestments.

Who is covered and what counts

If enacted, the bill would define who is a 'covered individual.' Covered individuals would be Members of Congress, their spouses, and dependent children. It would define 'covered investment' to include securities of publicly traded companies and similar synthetic interests like options and warrants. The bill would exclude some investments, including certain excepted funds, small business interests under the Small Business Act, and trusts where the covered person has no authority and the trustee is not a close family member.

Fees and enforcement for violations

If enacted, the bill would make a Member (or a spouse or parent in some cases) pay a fee for violating the rules. The fee would be the greater of $2,000 or 10 percent of the transaction value, plus any net gain from the investment while the person was covered. Members could not pay these fees with official office allowances or campaign money. Collected amounts would be deposited into the U.S. Treasury. Ethics offices could require sale of violating investments and may refer unpaid cases to the Department of Justice.

Rules start 180 days after enactment

If enacted, the bill's changes would take effect 180 days after the law is signed. That timing would apply to the definitions, the buy ban, the sale notice rules, and the fee and enforcement provisions. The delay would give offices and Members time to prepare before the rules apply.

Sponsors & CoSponsors

Sponsor

Steil

WI • R

Cosponsors

  • Hudson

    NC • R

    Sponsored 1/12/2026

  • Griffith

    VA • R

    Sponsored 1/12/2026

  • Murphy

    NC • R

    Sponsored 1/12/2026

  • Bice

    OK • R

    Sponsored 1/12/2026

  • Carey

    OH • R

    Sponsored 1/12/2026

  • Miller (IL)

    IL • R

    Sponsored 1/12/2026

  • Lee (FL)

    FL • R

    Sponsored 1/12/2026

  • Biggs (AZ)

    AZ • R

    Sponsored 1/12/2026

  • Ogles

    TN • R

    Sponsored 1/12/2026

  • Luna

    FL • R

    Sponsored 1/12/2026

  • Roy

    TX • R

    Sponsored 1/12/2026

  • Taylor

    OH • R

    Sponsored 1/12/2026

  • Van Orden

    WI • R

    Sponsored 1/12/2026

  • Bacon

    NE • R

    Sponsored 1/12/2026

  • Johnson (SD)

    SD • R

    Sponsored 1/12/2026

  • Hurd (CO)

    CO • R

    Sponsored 1/12/2026

  • Joyce (PA)

    PA • R

    Sponsored 1/12/2026

  • Collins

    GA • R

    Sponsored 1/12/2026

  • Lawler

    NY • R

    Sponsored 1/12/2026

  • Baumgartner

    WA • R

    Sponsored 1/12/2026

  • Cloud

    TX • R

    Sponsored 1/12/2026

  • Feenstra

    IA • R

    Sponsored 1/12/2026

  • Franklin, Scott

    FL • R

    Sponsored 1/12/2026

  • Mann

    KS • R

    Sponsored 1/12/2026

  • Buchanan

    FL • R

    Sponsored 1/12/2026

  • Timmons

    SC • R

    Sponsored 1/12/2026

  • Kim

    CA • R

    Sponsored 1/12/2026

  • Nunn (IA)

    IA • R

    Sponsored 1/12/2026

  • Cline

    VA • R

    Sponsored 1/12/2026

  • Crenshaw

    TX • R

    Sponsored 1/12/2026

  • Harris (MD)

    MD • R

    Sponsored 1/12/2026

  • Arrington

    TX • R

    Sponsored 1/12/2026

  • Alford

    MO • R

    Sponsored 1/12/2026

  • Yakym

    IN • R

    Sponsored 1/12/2026

  • Kennedy (UT)

    UT • R

    Sponsored 1/12/2026

  • Miller-Meeks

    IA • R

    Sponsored 1/12/2026

  • James

    MI • R

    Sponsored 1/12/2026

  • Mills

    FL • R

    Sponsored 1/12/2026

  • Cammack

    FL • R

    Sponsored 1/12/2026

  • Barrett

    MI • R

    Sponsored 1/12/2026

  • Carter (GA)

    GA • R

    Sponsored 1/12/2026

  • LaLota

    NY • R

    Sponsored 1/12/2026

  • Mackenzie

    PA • R

    Sponsored 1/12/2026

  • Schmidt

    KS • R

    Sponsored 1/12/2026

  • Fedorchak

    ND • R

    Sponsored 1/12/2026

  • Kiggans (VA)

    VA • R

    Sponsored 1/12/2026

  • Hinson

    IA • R

    Sponsored 1/12/2026

  • Rutherford

    FL • R

    Sponsored 1/12/2026

  • Smith (NJ)

    NJ • R

    Sponsored 1/12/2026

  • Ciscomani

    AZ • R

    Sponsored 1/12/2026

  • Kiley (CA)

    CA • R

    Sponsored 1/12/2026

  • Patronis

    FL • R

    Sponsored 1/12/2026

  • Houchin

    IN • R

    Sponsored 1/12/2026

  • Riley (NY)

    NY • D

    Sponsored 1/12/2026

  • Harrigan

    NC • R

    Sponsored 1/12/2026

  • Moolenaar

    MI • R

    Sponsored 1/12/2026

  • Perry

    PA • R

    Sponsored 1/12/2026

  • Bean (FL)

    FL • R

    Sponsored 1/12/2026

  • Flood

    NE • R

    Sponsored 1/12/2026

  • Self

    TX • R

    Sponsored 1/12/2026

  • Bresnahan

    PA • R

    Sponsored 1/12/2026

  • Huizenga

    MI • R

    Sponsored 1/12/2026

  • Bergman

    MI • R

    Sponsored 1/12/2026

  • Messmer

    IN • R

    Sponsored 1/12/2026

  • Tiffany

    WI • R

    Sponsored 1/12/2026

  • Grothman

    WI • R

    Sponsored 1/12/2026

  • Fitzgerald

    WI • R

    Sponsored 1/12/2026

  • Smucker

    PA • R

    Sponsored 1/12/2026

  • Strong

    AL • R

    Sponsored 1/12/2026

  • Miller (OH)

    OH • R

    Sponsored 1/12/2026

  • McDowell

    NC • R

    Sponsored 1/12/2026

  • Wagner

    MO • R

    Sponsored 1/12/2026

  • Begich

    AK • R

    Sponsored 1/13/2026

  • Crane

    AZ • R

    Sponsored 1/13/2026

  • LaHood

    IL • R

    Sponsored 1/13/2026

  • Rogers (AL)

    AL • R

    Sponsored 1/13/2026

  • Tenney

    NY • R

    Sponsored 1/13/2026

  • Mast

    FL • R

    Sponsored 1/13/2026

  • Gosar

    AZ • R

    Sponsored 1/13/2026

  • Ellzey

    TX • R

    Sponsored 1/13/2026

  • Fallon

    TX • R

    Sponsored 1/13/2026

  • Langworthy

    NY • R

    Sponsored 1/13/2026

  • Downing

    MT • R

    Sponsored 1/13/2026

  • Webster (FL)

    FL • R

    Sponsored 1/13/2026

  • Fong

    CA • R

    Sponsored 1/20/2026

  • Crank

    CO • R

    Sponsored 1/20/2026

  • Bentz

    OR • R

    Sponsored 1/21/2026

  • McCormick

    GA • R

    Sponsored 1/21/2026

  • Haridopolos

    FL • R

    Sponsored 1/21/2026

  • Guest

    MS • R

    Sponsored 1/22/2026

  • Case

    HI • D

    Sponsored 1/27/2026

  • Van Epps

    TN • R

    Sponsored 1/27/2026

  • Evans (CO)

    CO • R

    Sponsored 1/27/2026

Roll Call Votes

No roll call votes available for this bill.

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