Ban on Stock Ownership and Lifetime Lobbying for Federal Officials
This Act prohibits specified federal officials, including Members of Congress, the President, and judges, from owning or trading covered investments. This prohibition extends to the family members of Members of Congress. Additionally, the bill establishes a lifetime ban on lobbying Congress and foreign entities for former Members of Congress and modifies rules regarding outside earned income and service on boards.
Key points
Covered federal officials and the family members of Members of Congress (spouses, dependent children) are prohibited from owning or trading individual stocks, commodities, digital assets, or other covered investments.
Permitted investments include diversified mutual funds, ETFs, and U.S. Treasury bonds.
A lifetime ban on lobbying Congress and foreign entities is established for former Senators and Members of the House of Representatives.
The Act modifies outside earned income rules for Members of Congress, including exceptions for medical practice and teaching, and bans service on boards of associations or corporations (with exceptions for nonprofits).
Status:
Introduced
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