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Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act

USA118th CongressS-58| Senate 
| Updated: 1/24/2023
Josh Hawley

Josh Hawley

Republican Senator

Missouri

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act This bill prohibits Members of Congress (or their spouses) from holding or trading certain investments (e.g., individual stocks and related financial instruments other than diversified investment funds or U.S. Treasury securities). The prohibition does not apply to assets held in a qualified blind trust or to sales by a Member to come into compliance with the bill's requirements. Specifically, the bill allows for sales by current Members during the 180 days following the bill's enactment and for sales by future Members during the 180 days following the commencement of their service. Any profit made in violation of the prohibition must be disgorged to the Treasury and may subject the Member to a civil fine. Additionally, a loss stemming from a prohibited holding or transaction may not be used as an income tax deduction. Each Member must submit an annual certification of compliance, and the Government Accountability Office must audit Members' compliance with the bill's provisions.
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Timeline
Jan 24, 2023
Introduced in Senate
Jan 24, 2023
Read twice and referred to the Committee on Finance.
  • January 24, 2023
    Introduced in Senate


  • January 24, 2023
    Read twice and referred to the Committee on Finance.

Congress

Related Bills

  • S 118-439: Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act

Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act

USA118th CongressS-58| Senate 
| Updated: 1/24/2023
Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act This bill prohibits Members of Congress (or their spouses) from holding or trading certain investments (e.g., individual stocks and related financial instruments other than diversified investment funds or U.S. Treasury securities). The prohibition does not apply to assets held in a qualified blind trust or to sales by a Member to come into compliance with the bill's requirements. Specifically, the bill allows for sales by current Members during the 180 days following the bill's enactment and for sales by future Members during the 180 days following the commencement of their service. Any profit made in violation of the prohibition must be disgorged to the Treasury and may subject the Member to a civil fine. Additionally, a loss stemming from a prohibited holding or transaction may not be used as an income tax deduction. Each Member must submit an annual certification of compliance, and the Government Accountability Office must audit Members' compliance with the bill's provisions.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jan 24, 2023
Introduced in Senate
Jan 24, 2023
Read twice and referred to the Committee on Finance.
  • January 24, 2023
    Introduced in Senate


  • January 24, 2023
    Read twice and referred to the Committee on Finance.
Josh Hawley

Josh Hawley

Republican Senator

Missouri

Finance Committee

Congress

Related Bills

  • S 118-439: Preventing Elected Leaders from Owning Securities and Investments (PELOSI) Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted