A bill to amend chapter 131 of title 5, United States Code, to require Members of Congress and their spouses and dependent children to place certain assets into blind trusts, and for other purposes.
Ban Congressional Stock Trading Act
This bill requires each Member of Congress to divest or place in a blind trust any specified investment owned by the Member, the Member's spouse, or a Member's dependent who is less than 19 years old. This requirement applies for the entire period of a Member's service in Congress and for 180 days after that service ceases.
A Member of Congress who does not comply with the bill's requirements is subject to a fine equal to the Member's monthly congressional salary. The fine must be assessed 30 days after notice of the violation is issued and at least every subsequent 30 days.
Introduced in Senate
Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
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