Bills · HR 253
IN COMMITTEE· 119TH CONGRESS
House BillHR 253SecuritiesGovernment ethics and transparency, public corruption
Bipartisan Restoring Faith in Government Act
INTRO JAN 9· LAST ACTION JAN 9
READING
7MIN
COSPONSORS
14
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it addresses public concerns about potential insider trading and conflicts of interest among elected officials. When lawmakers and their families trade individual stocks, there's often a perception that they might use confidential information from their legislative duties—like upcoming policy changes or government contracts—to make profitable trades before that information becomes public. This can erode public trust in government and create a belief that politicians prioritize personal gain over public service.
If this bill becomes law, it would significantly tighten ethical rules, making it harder for lawmakers to be perceived as profiting from their positions. This could boost public confidence in the integrity of Congress and ensure that decisions are made based on the public good, not personal financial interests. If it doesn't pass, the current system, which allows individual stock trading with disclosure requirements, would remain in place, continuing to fuel concerns about potential conflicts of interest.
KEY PROVISIONS
5AI-extractedPROVISION 01
Prohibits ownership and trading of individual financial instruments by Members of Congress, their spouses, and dependents.
This directly tackles potential conflicts of interest by removing the ability for lawmakers to profit from market movements that could be influenced by their legislative work.
PROVISION 02
Requires covered individuals to divest (sell) prohibited assets or place them in an independently managed qualified blind trust within 90 days.
Provides specific mechanisms for compliance, ensuring assets are either removed from direct control or managed without the owner's knowledge to prevent conflicts.
PROVISION 03
Exempts widely held investment funds (like mutual funds), U.S. Treasury bonds, state and local government bonds, and Thrift Savings Plan investments from the prohibition.
Allows for responsible financial planning and retirement savings without exposing individuals to direct conflicts of interest from specific company holdings.
PROVISION 04
Establishes a civil penalty of up to $50,000 for knowingly and willfully failing to comply with the new investment restrictions.
Provides a clear deterrent and a means of enforcement, giving the rules real consequences for violations.
PROVISION 05
Mandates that the supervising ethics office approve qualified blind trusts, track compliance pledges, and publicly publish certificates of compliance.
Ensures transparency and accountability in the enforcement process, allowing the public to see who is complying with the rules.
SPONSORSHIP
1 + 14
R· Pennsylvania
YRS IN OFFICE
9
BILLS LED
86
COSPONSOR BREAKDOWNBIPARTISAN · 42%
DEM 11 REP 3 IND 0
ACTION TIMELINE
2 EVENTSJAN 9
Introduced in House
JAN 9
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.
BILL INFO
TypeHouse Bill
NumberHR 253
Congress119th
StatusIn Committee
IntroducedJan 9, 2025
Last actionJan 9, 2025
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IN COMMITTEE· 119TH CONGRESS · WAYS AND MEANS COMMITTEE · INTRODUCED JAN 9, 2025
House BillHR 253SecuritiesGovernment ethics and transparency, public corruption
Bipartisan Restoring Faith in Government Act
INTRODUCED JAN 9, 2025· LAST ACTION JAN 9, 2025
PASSAGE CHANCES
—%
READING
7 min
COSPONSORS
14
COMPLEXITY
Moderate
