119th Congress Congress
S. 1498: Halting Ownership and Non-Ethical Stock Transactions (HONEST) Act
Reported
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill generally prohibits the President, Vice President, and Members of Congress (and their spouses and dependents) from owning, acquiring, or selling certain investments, including individual stocks and digital assets. Violations are subject to specified civil penalties.
Under the bill, covered officials and their spouses and dependents may not purchase or sell individual stocks, digital assets, or related financial instruments that are not diversified investment funds, Treasury securities, or certain other holdings.
The bill also prohibits covered officials, their spouses, or their dependents from maintaining a qualified blind trust. The bill requires covered officials to divest from prohibited investments they, their spouse, or their dependent owns or controls. The bill establishes processes for divestment from qualified blind trusts and disposition of certain inherited investments. Violations are subject to specified civil penalties.
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Covered officials, their spouses, and their dependents are prohibited from controlling or purchasing prohibited investments until 90 days after the covered official ceases to serve in office.
Each applicable supervising ethics office must make related information (e.g., certain notices of divestiture; descriptions of assets held in trusts; and federal loans, grants, or related benefits that the official received) available online in a searchable format.
Further, the bill imposes penalties on Members of and candidates for Congress and congressional employees for failing to comply with existing financial disclosure requirements.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Bernie Moreno R-OHOriginal
- Jon Ossoff D-GA
- Gary Peters D-MI
- Jeff Merkley D-OR
- Catherine Cortez Masto D-NV
Who scored on this bill
- 1Joshua Hawley SponsorIntroduced, drew cross-party cosponsors, reported3 events+26
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Introductions and cosponsorships count toward weekly caps and show no points.
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History
- Introduced in the Senate by Joshua Hawley.
Show the full action history (5 actions)
- Committee on Homeland Security and Governmental Affairs. Reported by Senator Paul with an amendment in the nature of a substitute. Without written report.
- Placed on Senate Legislative Calendar under General Orders. Calendar No. 294.
- Committee on Homeland Security and Governmental Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
- Introduced in Senate
- Read twice and referred to the Committee on Homeland Security and Governmental Affairs.