AI-assisted analysis based on the official CRS summary. Source version: Jul 28, 2026. Analysis updated: Sep 15, 2026.
01 — The Text
What.
- The President, Vice President, Members of Congress, and their spouses and dependents are prohibited from owning, acquiring, or selling individual stocks and digital assets.
- Permitted investments include diversified investment funds, Treasury securities, and certain other holdings specified in the bill.
- Qualified blind trusts are prohibited for covered officials.
- Covered individuals must divest from prohibited investments they currently own or control.
- Violations are subject to specified civil penalties.
02 — The Stakes
So what?
- Covered officials and their families remain restricted from purchasing or controlling prohibited investments for 90 days after the official leaves office.
- Each applicable supervising ethics office must publish divestiture notices, trust asset descriptions, and federal benefits received by officials in searchable online format.
- Members of and candidates for Congress and congressional employees face penalties for noncompliance with existing financial disclosure requirements.
- The bill establishes processes for divesting from qualified blind trusts and handling inherited prohibited investments, but specific procedures and timelines are not detailed in the summary.
03 — The Path
Now what?
- The bill was introduced in the Senate on April 28, 2025, and referred to the Committee on Homeland Security and Governmental Affairs.
- The committee ordered the bill to be reported with an amendment in the nature of a substitute on July 30, 2025.
- Senator Paul reported the bill with an amendment in the nature of a substitute on December 10, 2025, without a written report.
- The bill was placed on the Senate Legislative Calendar under General Orders (Calendar No. 294) on December 10, 2025.
Legislative History
Actions.
- Dec 10, 2025 — Placed on Senate Legislative Calendar under General Orders. Calendar No. 294.
- Dec 10, 2025 — Committee on Homeland Security and Governmental Affairs. Reported by Senator Paul with an amendment in the nature of a substitute. Without written report.
- Dec 10, 2025 — Committee on Homeland Security and Governmental Affairs. Reported by Senator Paul with an amendment in the nature of a substitute. Without written report.
- Jul 30, 2025 — Committee on Homeland Security and Governmental Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
- Apr 28, 2025 — Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
- Apr 28, 2025 — Introduced in Senate