Summary of HR 3388 — Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act

Quick Facts

• Bill Number: HR 3388
• Short Title: Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act
• Introduced: May 14, 2025
• Primary Sponsor: Mark Alford
• Cosponsor: W. Gregory Steube
• Related Bill (Senate companion): S 1498
• Current Status: Introduced and referred to the House Committee on House Administration; sponsor provided introductory remarks on the measure (CR H2041-2042)

Purpose and Intent

• The bill’s title indicates an objective to prohibit elected leaders from owning securities and investments. The provided materials do not include the full text or detailed legislative language, so the exact definition of “elected leaders,” “securities,” and “investments,” as well as any exemptions or transitional provisions, are not specified here. The stated goal appears to address potential conflicts of interest by restricting ownership of financial assets by individuals serving in elected office.

Key Provisions (Based on Title; text not provided in the materials)

• Prohibition on ownership: Elected leaders would be barred from owning securities and investments.
• Scope and definitions: Not specified in the provided information; unclear which officials are covered (federal, state, or local), what constitutes “securities” or “investments,” and whether funds such as certain retirement accounts or diversified index funds are included.
• Compliance and enforcement: No details available in the provided materials about penalties, enforcement mechanisms, or reporting requirements.
• Exemptions and transition: No information provided about potential exemptions, phase-in periods, or grandfathering of existing holdings.

Who Would Be Affected

• The primary assumed audience is elected leaders, potentially including members of Congress and other federal elected officials, though the exact scope is not defined in the provided content. The bill’s impact would depend on the formal definitions and covered offices in the enacted text.

Legislative Path and Timeline

• Introduced in the House on May 14, 2025.
• Referred to the House Committee on House Administration on the same day.
• Sponsor’s introductory remarks were recorded on the floor (CR H2041-2042).
• A Senate companion bill exists (S 1498), indicating parallel consideration in the Senate, but no further action details are provided here.

Potential Impact and Considerations

• If enacted, the PELOSI Act could significantly restrict financial holdings for elected officials, potentially reducing conflicts of interest but raising questions about compliance, enforcement, and personal financial planning for public servants.
• Without full text, key questions remain: Which offices are covered? What assets are included or excluded? How would holdings be divested or managed? What are the penalties for noncompliance?

Next Steps

• Review the full bill text and any amendments to understand definitions, exemptions, and enforcement.
• Monitor committee hearings and floor actions in both the House and the Senate on the companion bill (S 1498).
• Track any new sponsors, amendments, or changes to the bill’s scope and timeline.