HR 253 119th Congress House Congress Family relationships Financial services and investments Government ethics and transparency, public corruption Government information and archives Members of Congress Securities

Bipartisan Restoring Faith in Government Act

Introduced: January 9, 2025 Introduced by: Fitzpatrick, Brian K. Republican · Pennsylvania See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jan 9, 2025

Referred to the Committee on House Administration, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Jan 9, 2025

Introduced in House

Plain-English summary Congressional Research Service

Bipartisan Restoring Faith in Government Act

This bill prohibits Members of Congress (and their spouses and dependents) from purchasing or selling certain investments, such as individual stocks and related financial instruments that are not diversified investment funds, U.S. Treasury securities, or other specified holdings.

Members must divest prohibited investments within 90 days by selling them or placing them in a qualified blind trust. The bill also restricts communications between trustees and beneficiaries related to investments held in qualified blind trusts.

Members must certify their compliance with the supervising ethics office, which must make the certificates publicly available online.

Violations are subject to specified civil penalties. Additionally, losses stemming from a transaction involving a prohibited investment that violates the provisions of the bill may not be deducted from income taxes.

What's happening now January 9, 2025

Committees of jurisdiction 2