A leading House Republican is introducing a new bill that aims to ban stock transactions by members of Congress and their spouses and dependent children in the latest effort to address ethics concerns surrounding lawmakers’ investment portfolios.
FOX Business examined a bill that would restrict lawmakers, their spouses and dependents from buy stocks or comparable titles during their service in Congress.
The bill would also create a requirement that the sale of shares covered by the law be publicly disclosed at least seven days and no more than 14 days before the sale and include a description of the number of shares and the anticipated date of the sale.
THE congressman related to the transaction would be required to withdraw such disclosure if the covered person chooses not to sell the investment.
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American flags on the floor of the New York Stock Exchange in New York on August 18, 2025. (Michael Nagle/Bloomberg via Getty Images / Getty Images)
The bill is being introduced by House Administration Committee Chairman Bryan Steil, R-Wis.
Lawmakers who violate the stock trading restrictions themselves or indirectly through their spouse or dependent child will incur fees and, if they purchased a stock or other hedge investment, would be required to sell it.
The fees incurred would be equivalent to the sum of $2,000 or 10% of the value of the transaction, whichever is greater, and the net gain realized, if any, as determined by the supervisory ethics office.
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The bill would prevent lawmakers from paying fees from the authorized budget for their office’s personnel and expense accounts, as well as for campaign contributions.
Following an assessment of costs stemming from the stock trading ban, the House or Senate ethics office would have the authority to refer the congressman to the Justice Department if the lawmaker retires before paying the fine.
Under Steil’s bill, provisions prohibiting members from trading stocks would take effect 180 days after the bill is signed into law.
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The House Administration Committee is expected to hold a hearing on markup of Steil’s bill on Wednesday, a source familiar with the matter told FOX Business.
Several bills to ban securities trading have been introduced in Congress in recent years, but none have been signed into law.