Mandatory Blind Trusts for Members of Congress and Their Families
This new law requires Members of Congress, their spouses, and dependent children to place certain investments into blind trusts. This aims to prevent the use of public information for personal financial gain. Citizens will have greater assurance that political decisions are made in the public interest, not for private benefit.
Key points
Members of Congress and their families must place investment assets into blind trusts within 90 days of the law's enactment or assuming office.
Blind trusts cannot be dissolved or controlled for 180 days after a Member leaves office.
Information about trust establishment or lack of covered investments will be publicly available on House and Senate websites.
An exception applies if a spouse or dependent child receives compensation from their primary occupation through a covered investment.
Status:
Expired
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