On September 3, 2025, a rare moment of unity swept through the halls of Congress as lawmakers from both sides of the aisle gathered to unveil the Restore Trust in Congress Act—a sweeping, bipartisan bill aimed at banning members of Congress and their families from trading or owning individual stocks. The legislation, the result of months of negotiation and compromise, merges several previously introduced efforts into what supporters hope will be a definitive answer to mounting public concerns over conflicts of interest and self-enrichment on Capitol Hill.
The press conference introducing the bill featured an unlikely coalition: conservative Republicans like Chip Roy of Texas and Brian Fitzpatrick of Pennsylvania stood shoulder-to-shoulder with progressive Democrats such as Alexandria Ocasio-Cortez of New York and Pramila Jayapal of Washington. Seth Magaziner, a Democrat from Rhode Island and one of the bill’s lead sponsors, summed up the moment’s significance: “We must take a strong stand against corruption and end stock trading by members of Congress once and for all. I have made banning Congressional stock trading a priority through my time in the House, and this bipartisan bill is our best chance at finally getting it done.”
The Restore Trust in Congress Act is not the first attempt to address this issue, but lawmakers argue it is the most comprehensive and enforceable to date. According to NewsNation and The Hill, the bill reconciles and combines several earlier proposals—including the original TRUST in Congress Act from 2021—into a single, unified effort. “What we’ve decided to do is take the multiple bills that are represented by folks on this dais, bring it together into one bill and speak with one, united bipartisan voice that it is time for Congress to act,” said Rep. Roy. “It is time for the leadership of Congress on both sides of the aisle to do what the American people have been demanding, which is to end day trading by members of Congress.”
So, what’s actually in the bill? The Restore Trust in Congress Act prohibits all members of Congress, their spouses, dependent children, and trustees from owning, buying, or selling individual stocks, securities, commodities, or futures. There are a few exceptions, though: lawmakers can still invest in diversified mutual funds and ETFs, U.S. Treasury and municipal bonds, precious metals, certain shares under the Alaska Native Claims Settlement Act, interests in small businesses, and family trusts under strict conditions. Assets received as compensation from a spouse’s occupation, or traded on behalf of others through their day jobs, are also exempt. Personal residences held in LLCs make the cut as well.
The bill sets strict deadlines for divestment: current members must shed any covered assets within 180 days of the law’s enactment, while incoming members have 90 days. If an asset is inherited during a member’s time in office, it must be divested within 90 days of receipt. Recognizing that not all assets are easy to liquidate, lawmakers can apply for extensions if they face low liquidity, vesting schedules, or contractual restrictions.
To soften the financial blow, the act allows members who sell their stocks to defer capital gains taxes if they reinvest in mutual funds, using a process already available to executive branch employees. But the penalties for breaking the rules are anything but soft: violators face a fine equal to 10% of the asset’s value, plus the disgorgement of any profits, and all penalties must be paid from personal—not campaign or office—funds. The supervising ethics office is tasked with enforcing the law, issuing additional guidance, and publicly disclosing all fines and disciplinary outcomes.
The urgency behind the bill is not hard to understand. According to a recent report cited by Rep. Roy, 113 members of Congress made a staggering 9,261 stock trades in 2024 alone, involving some 76 million shares. Watchdog groups have repeatedly flagged enormous returns on investments reported by lawmakers and their spouses, raising suspicions that access to insider information could be fueling personal gain. As Rep. Magaziner put it, “The opportunity for corruption is just so great.”
Public trust in Congress has been at historic lows for years, with only two in ten Americans believing that their government will do what’s right for them, according to Congresswoman Pramila Jayapal. “They see the people elected to represent them instead of making decisions to increase their own personal wealth. Finally, we are putting the American people first with this bipartisan legislation, which will ban stock trading for Members of Congress and set a new standard of integrity,” she said at the press event.
Even before the pandemic, the issue of congressional stock trading was a source of frustration for voters and reformers alike. But the COVID-19 crisis brought the problem into sharp relief, as it was revealed that some lawmakers had traded stocks based on early access to information about the unfolding health emergency. Current law technically prohibits insider trading by members of Congress and requires them to disclose their financial activities, but critics say these rules have proven too easy to circumvent—and penalties are too weak to deter bad behavior.
Support for reform now appears to span the political spectrum. House Speaker Mike Johnson, a Republican from Louisiana, said he’s “generally in favor” of banning congressional stock trading, though he acknowledged that “we have lots of different opinions on that in the conference and in Congress, so we’ve got to work on it.” House Minority Leader Hakeem Jeffries, a Democrat from New York, has also voiced support. Even former President Donald Trump and Treasury Secretary Scott Bessent have chimed in, backing efforts to bar lawmakers from stock trading.
For many of the bill’s supporters, the core issue is trust. “Ending congressional stock trading has been one of my top priorities every Congress, because it speaks to something bigger than politics: trust,” said Rep. Fitzpatrick. “A bipartisan coalition of this magnitude sends a clear message to the American people: we hear you, and we’re taking action to ensure no Member of Congress uses public office for personal gain once and for all. If you’re in Congress, you serve the public interest—not your portfolio.”
Rep. Anna Paulina Luna, a Republican from Florida, echoed that sentiment: “No one sent to Congress should be enriching themselves through Wall Street while writing the very laws that regulate our markets. This bill is about accountability, transparency, and restoring faith in the institution of Congress.”
Will the Restore Trust in Congress Act finally break the gridlock that has stymied previous reform efforts? Lawmakers seem determined not to let another Congress pass without action. “We are not going to let another Congress pass without getting this done,” Fitzpatrick vowed. For now, the bill stands as a rare, united front in a deeply divided political landscape—one that, if passed, could reshape the relationship between lawmakers and the markets they help regulate.
