GOP pushes bill to ban members of Congress and their families from buying publicly traded stocks

The Republican Party introduced the Anti-Insider Trading Act, which would prohibit members of Congress, their spouses and dependent children from buying listed stocks. The legislation originated in the House of Representatives and has already been endorsed by leadership. Mike Johnson, speaker of the House, described the initiative as "an important step in our efforts to restore the people's faith and trust in Congress."

The bill would not force members of Congress who already own shares to sell them, but would prohibit future purchases. To sell them, lawmakers and their families would have to give public notice in advance,between 7 and 14 days before the sale.

In turn, if a lawmaker fails to comply with the rules, the House Ethics Committee would impose a fine equal to $2,000 or 10% of the value of the investment in question (whichever is greater), and to that would add the net gain from the sale.

"The American people deserve to know their Member of Congress is not profiting off insider information. The Stop Insider Trading Act ensures that cannot happen," House Administration Committee Chairman Bryan Steil (R-WI) said in a statement.

"This legislation is critical to restoring the public's trust in their elected officials. If you want to trade stocks, go to Wall Street, not Capitol Hill," he added.

As for the bill's next steps, it will reach the House Administration Committee this week. If approved, it will move to the floor for a vote for all members. Steve Scalise, Republican majority leader in the House, advanced that he expects the vote to take place in the next few weeks.

"I’ve worked closely with Chairman Steil, who has been tirelessly putting together a bill that bans stock trading by Members of Congress, and would like to move this bill for a full House vote soon after it gets out of committee," Scalise said.

The legislation joins other similar bills, such as the Preventing Securities and Investment Ownership by Elected Leaders Act, introduced in April 2025, and the Restoring Confidence in Congress Act, introduced in September 2025.