WeVote
Log In

Bill

Bill

HR 9429

To amend chapter 131 of title 5 to prohibit Members of Congress and their spouses and dependents from owning or trading stocks, and for other purposes.

119th Congress Introduced by Brian Fitzpatrick and 1 co-sponsor

It would prohibit Members of Congress and their spouses and dependents from owning, purchasing, or trading stocks while in office.

Introduced in House
0
WeVote Research Nonpartisan
Bill Summary · HR 9429

Bill Overview

  • Bill: HR 9429
  • Session: 119
  • Status (as of action history): Introduced in the House and referred to multiple committees (Oversight and Government Reform; House Administration; Judiciary) for consideration of provisions within their jurisdiction.
  • Sponsor(s):
    • Primary sponsor: Not specified in provided text
    • Co-sponsors: Maggie Goodlander; Brian Fitzpatrick

Purpose and Intent

  • The bill amends chapter 131 of title 5 to prohibit Members of Congress and their spouses and dependents from owning or trading stocks, effectively addressing potential conflicts of interest related to legislative decision-making and personal financial holdings.

Key Provisions and Changes

  • Prohibition on stock ownership and trading:
    • Members of Congress, along with their spouses and dependents, would be barred from owning, purchasing, or trading financial securities (stocks) while serving in Congress.
  • Scope and definitions (provisional):
    • The text specifies coverage under chapter 131 of title 5, which governs certain ethics and public accountability provisions. Likely definitions to cover:
    • What qualifies as “owning” a security
    • What constitutes “trading” (buying/selling, short-term trades, etc.)
    • Who is considered a “Member of Congress” and which family members are included as spouses and dependents
  • Compliance mechanics:
    • The bill would establish compliance requirements for affected individuals, including timing of divestment or placement of assets into eligible vehicles (e.g., blind trusts, qualified accounts) to prevent prohibited holdings.
  • Enforcement and penalties (inferred):
    • Possible penalties for violations and enforcement mechanisms through ethics or oversight bodies, with procedures for reporting and investigation. The exact penalties are not provided in the summary text but would be typical for ethics-related statutes.

Who Would Be Affected

  • Primary audience: Members of Congress (Senate and House implied by federal scope and standard practice for such ethics reforms).
  • Secondary audience: Spouses and dependents of Members of Congress.
  • Responsible entities: Likely the Office of Congressional Ethics, the House/Senate ethics committees, and other relevant oversight bodies responsible for enforcement and compliance monitoring.

Procedural and Timeline Aspects

  • Introduction and Referral:
    • Introduced in the House on 2026-06-24.
    • Referred to multiple committees for consideration of provisions within their jurisdiction:
    • Committee on Oversight and Government Reform
    • Committee on House Administration
    • Committee on the Judiciary
    • Referral indicates a staged review process, with potential for hearings, markup, and reporting to the full chamber.
  • Next steps (typical path):
    • Committee consideration (hearings, amendments, votes)
    • If approved, reports move to the floor for debate and passage
    • If passed by one chamber, would need synchronization with the other chamber (and potential conference if differences arise)
    • Presidential signature required to become law

Potential Impacts and Considerations

  • Ethical transparency: Aims to eliminate potential conflicts between legislative duties and personal financial interests by removing stock-based investment opportunities for lawmakers and their immediate family.
  • Market implications: Could affect how congressional members manage risk and diversify portfolios; may shift toward other permissible investments (e.g., broad-based funds, blind trusts).
  • Compliance burden: Creates new fiduciary and reporting responsibilities, with potential penalties for non-compliance if violations occur.
  • Political and practical considerations: Depending on final language, questions may arise about transition rules, grandfathering of existing holdings, and enforcement scope.

If you’d like, I can tailor this summary to include hypothetical language for definitions (e.g., what constitutes “trading” or “spouse and dependents”) or compare with similar existing ethics reforms.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.