The "Restoring Trust in Public Servants Act" seeks to enhance public trust by implementing stringent ethical reforms for federal officials across all three branches of government. Its primary objectives include preventing conflicts of interest related to financial investments, restricting post-employment lobbying activities, and limiting outside income and board service for Members of Congress.

A core provision of the bill prohibits covered officials and family members of Members of Congress from owning or trading covered investments. These investments include individual securities, commodities, digital assets, and security futures, as well as synthetic interests like derivatives. However, the prohibition specifically excludes diversified mutual funds, diversified exchange-traded funds, U.S. Treasury instruments, and government employee retirement plans.

To comply, individuals must divest any prohibited investments within 90 days of the bill's enactment, becoming a covered official, or acquiring a new covered investment. Violations incur penalties, with certain high-level officials and Members of Congress facing a penalty equal to their monthly salary. The supervising ethics office is also required to publicly list individuals found in violation of these investment rules, and the bill amends tax law to allow for tax-deferred divestitures.

The legislation also significantly strengthens lobbying restrictions, imposing a lifetime ban on former Members of Congress from engaging in lobbying contacts or activities with covered executive branch officials or congressional personnel. This lifetime prohibition also extends to lobbying on behalf of foreign entities. These new lobbying restrictions will apply to individuals who leave office on or after January 4, 2027.

Furthermore, the bill amends existing law regarding outside earned income for Members of Congress, rephrasing the current 15 percent limit on such income, while allowing exceptions for compensation from practicing medicine or teaching under specific conditions. It also prohibits Members of Congress and certain staff from serving on the board of any association, corporation, or other entity, with exceptions for uncompensated service on nonprofit boards or uncompensated service on any entity for staff.