Ban Congressional Stock Trading Act

Senate Bill 3494 - Ban Congressional Stock Trading Act: Overview, Status, and Impact

Hozzl · 2022-12-30T04:04:47Z

Explore the details of Senate Bill 3494 Ban Congressional Stock Trading Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Congress. Stay informed on legislative developments.

12/30/2022, 4:04 AM

Congressional Summary of S 3494

Ban Congressional Stock Trading Act

This bill requires each Member of Congress to divest or place in a blind trust any specified investment owned by the Member, the Member's spouse, or a dependent of the Member. This requirement applies for the entire period of a Member's service in Congress and for 180 days after that service ceases.

A Member of Congress who does not comply with the bill's requirements is subject to a fine equal to the Member's monthly congressional salary. The fine must be assessed 30 days after notice of the violation is issued and at least every subsequent 30 days.

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Current Status of Bill S 3494

Bill S 3494 is currently in the status of Bill Introduced since January 12, 2022. Bill S 3494 was introduced during Congress 117 and was introduced to the Senate on January 12, 2022. Bill S 3494's most recent activity was Read twice and referred to the Committee on Homeland Security and Governmental Affairs. as of January 12, 2022

Bipartisan Support of Bill S 3494

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 3494

Primary Policy Focus

Congress

Potential Impact Areas

- Civil actions and liability

- Financial services and investments

- Government ethics and transparency, public corruption

- Government information and archives

- Members of Congress

- Securities

Alternate Title(s) of Bill S 3494

Ban Congressional Stock Trading Act

A bill to amend the Ethics in Government Act of 1978 to require Members of Congress and their spouses and dependents to place certain assets into blind trusts, and for other purposes.