The bill would bar covered federal officials from owning or trading many investments, including securities, commodities, digital assets, and related financial interests. It allows some exceptions, such as diversified funds and Treasury securities. Officials generally would have 90 days to sell covered investments. The bill also changes rules on outside income and board service for Members of Congress and certain congressional staff, and creates a lifetime ban on lobbying by former Members of Congress. It provides penalties for violations and changes tax rules for certain required sales.
The investment rules would apply to specified federal officials and, for Members of Congress, their spouses and dependent children. The outside-income, board-service, and lobbying rules apply to Members of Congress and certain congressional staff or former Members. The bill does not set new rules for the public generally.
No publicly available information about implementation costs. The bill sets penalties for violations and changes tax treatment for certain sales made to comply with its requirements.
No publicly available information.
No publicly available information.