01 — The Text
What.
- Prohibits the President, Vice President, and Members of Congress—plus their spouses and dependents—from buying or selling individual stocks and digital assets.
- Allows only diversified funds, Treasury securities, and similar safe holdings. Blind trusts are explicitly banned.
- Requires forced divestment from prohibited investments within a set timeframe; 90-day cooling-off period after leaving office.
- Creates searchable online disclosure database of divestiture notices, trust holdings, and federal benefits received by covered officials.
02 — The Stakes
So what?
- Targets potential conflicts of interest: lawmakers voting on bills affecting companies they own stock in. Applies to their families too.
- Winners: voters seeking transparency and officials avoiding appearance of impropriety. Losers: officials with stock portfolios who must liquidate.
- Adds penalties for Members, candidates, and congressional staff who don't file required financial disclosures.
- Stakes: whether lawmakers can legally profit from insider knowledge or must choose between public service and personal stock trading.
03 — The Path
Now what?
- Bill passed Senate committee in December 2025 with amendments; now on Senate legislative calendar awaiting floor debate and vote.
- If Senate passes it, bill moves to House for similar committee and floor review—a months-long process.
- Contact your senators: ask whether they support restricting congressional stock trading.
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