Sell Your Stocks or Step Down Act

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Introduced

In Committee

Passed One Chamber

Passed Both Chambers

Signed into Law

Referred to the Committee on Oversight and Government Reform, and in addition to the Committees on House Administration, the Judiciary, and 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.

Top government officials and their families would be banned from owning or trading most investments.

This bill would stop the President, Vice President, Members of Congress, and senior government officials from owning or trading most stocks, digital assets, and certain other investments. This rule would also apply to their families. However, widely held diversified funds and government bonds would still be allowed. They would have to sell off any existing investments within 30 days or face penalties. This changes current rules that generally allow them to trade, subject to existing ethics and disclosure laws.

What Would Change

Currently, top government officials and their families can generally own and trade various investments, following existing ethics and disclosure laws. If this bill passes, these officials and their families would be banned from owning or trading most stocks, digital assets, and other investments. They would have to sell off existing holdings within 30 days of the bill becoming law or within 30 days of becoming a covered official, or face significant daily fines.

Key Provisions

Bans the President, Vice President, Members of Congress, senior government officials, and their families from owning or trading most stocks, digital assets, and other investments.
Requires these officials and their families to sell off existing investments within 30 days of the bill becoming law or within 30 days of becoming a covered official.
Sets up daily fines for officials who do not sell their investments on time, equal to 10 percent of the investment's value, up to a total of 50 percent of that value.
Imposes a fine for illegal trades equal to the investment's value plus $10,000, and requires giving back any profits from such trades.
Lets spouses or dependent children trade investments if it's part of their main job and the covered official does not own the investment.

View on Congress.gov

HR 10199 · 119th Congress · AI Summary by gemini-2.5-flash · 5/10

Sell Your Stocks or Step Down Act

What Would Change

Key Provisions

Lobbying Activity