GOP lawmaker unveils stock-trading ban for Congress
Rep. Bryan Steil introduced the Stop Insider Trading Act to ban members, spouses, and dependents from buying individual stocks and require seven-day notice before sales.
Overview
Rep. Bryan Steil (R-Wis.) unveiled the Stop Insider Trading Act Monday, proposing to ban members of Congress from purchasing individual stocks during their tenure.
The bill would prohibit purchases by members, spouses, and dependent children, allow existing holdings to remain, and steer lawmakers toward broad index funds instead of individual equities.
It mandates a seven-day public notice before any stock sale and was referred to the House Administration Committee, which scheduled a Jan. 14 markup hearing.
House Speaker Mike Johnson and GOP leadership signaled support, while progressive Democrats including Rep. Alexandria Ocasio-Cortez criticized the bill as insufficient, demanding full divestment.
The measure joins prior bipartisan proposals and follows public outrage over disclosed trades; if passed by committee, GOP leaders must schedule a floor vote to advance it.
Analysis
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FAQ
The bill bans members of Congress, their spouses, and dependent children from purchasing publicly traded stocks during their tenure, allows holding existing stocks and investing in broad index funds, requires 7-day public notice before sales, and imposes penalties like fines up to $2,000 or 10% of the investment value plus net gains for violations.
Rep. Bryan Steil (R-Wis.), Chairman of the House Administration Committee, introduced the bill on January 12, 2026. It has been referred to the House Administration Committee, which scheduled a markup hearing for January 14.
House Speaker Mike Johnson and GOP leaders like Rep. Chip Roy support it for restoring trust. Progressive Democrats, including Rep. Alexandria Ocasio-Cortez, criticize it as insufficient, demanding full divestment instead of just banning purchases.
It joins prior bipartisan efforts like the 'Restore Trust in Congress Act' introduced in September 2025, amid ongoing public outrage over congressional stock trades, but focuses on banning purchases and requiring sale notices rather than full divestment.
Violators face a fee from the House Ethics Committee of $2,000 or 10% of the covered investment's value (whichever is greater), plus the net gain from the sale.
History
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