Overview
- A House Administration Committee hearing spotlighted weak enforcement of the 2012 STOCK Act, with witnesses noting no prosecutions, minimal fines, and frequent late trade disclosures.
- The Restore Trust in Congress Act would prohibit members, spouses, and dependents from owning or trading individual stocks, require divestment on defined timelines, and permit reinvestment in diversified funds with tax deferral.
- Committee Chair Bryan Steil declined to commit to a markup and deferred to Speaker Mike Johnson, who has expressed conceptual support but has not scheduled action.
- Backers including Reps. Brian Fitzpatrick, Seth Magaziner, Pramila Jayapal, and Tim Burchett pledged procedural pressure, and Rep. Anna Paulina Luna threatened a discharge petition to force a vote.
- The Senate’s HONEST Act advanced in committee with a contentious requirement that the president and vice president divest, a key difference from the House approach that complicates prospects for a final agreement.