AI-assisted analysis based on the official CRS summary. Source version: Jul 17, 2026. Analysis updated: Sep 15, 2026.
01 — The Text
What.
- Members of Congress and their spouses and dependent children are prohibited from purchasing stocks and other covered securities issued by publicly traded companies.
- Members must file public notice 7 to 14 days before selling covered investments, with notices published online by the Clerk of the House or Secretary of the Senate.
- Violations trigger fees equal to the greater of $2,000 or 10% of the transaction value, plus any net gains realized during a specified period.
- Certain investments are exempt, including widely held investment funds and trust holdings.
- Spouse and dependent transactions are exempt if made for another person or as compensation from their employer.
02 — The Stakes
So what?
- The bill's documented effects are limited to its stated mechanisms: purchase prohibition, notice requirements, and fee penalties—no external studies or projected economic impacts are provided in the official summary.
- Fees cannot be paid using campaign donations or Members' official allowances, restricting available payment sources.
- The notice-and-withdraw provision allows members to reverse sale intentions without public execution.
- The summary does not establish whether this bill will reduce actual insider trading, improve market confidence, or produce other measurable outcomes.
03 — The Path
Now what?
- House passed the bill 232–198 on July 22, 2026.
- Senate received the bill July 23, 2026 and read it twice by August 6, 2026, placing it on the General Orders calendar.
- No further Senate action is recorded as of the latest available update.
- The bill's next procedural step is not documented.
Legislative History
Actions.
- Aug 6, 2026 — Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 548.
- Aug 5, 2026 — Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
- Jul 23, 2026 — Received in the Senate.
- Jul 22, 2026 — Motion to reconsider laid on the table Agreed to without objection.
- Jul 22, 2026 — On passage Passed by the Yeas and Nays: 232 - 198 (Roll no. 280). (text of amendment in the nature of a substitute: CR H5143-5144)
- Jul 22, 2026 — Passed/agreed to in House: On passage Passed by the Yeas and Nays: 232 - 198 (Roll no. 280).
- Jul 22, 2026 — On motion to recommit Failed by the Yeas and Nays: 211 - 218 (Roll no. 279).
- Jul 22, 2026 — Considered as unfinished business. (consideration: CR H5157-5158)