Latest action: Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 548.
Bill is filed in its originating chamber and assigned a number.
Sponsor
Bryan Steil (R-WI)
Filed in the House.
Next: In Committee
Members of the committee(s) the bill was referred to
The bill aims to strengthen rules preventing members of Congress and staff from trading stocks using inside information.
The problem
Members of Congress and their staff can access non-public information that might influence stock prices. Current laws may not prevent them from trading stocks based on this advantage.
The proposal
The bill would tighten restrictions on stock trading by Congress members and congressional staff using information they learn through their jobs.
The impact
Congress members, congressional staff, and potentially stock markets affected through changed trading rules and enforcement of insider trading restrictions.
Stricter rules make it harder for politicians to profit from secret information. This can restore confidence that government decisions are made for the public good, not personal gain.
Regular Americans cannot trade on inside government information. Preventing Congress from doing so makes the stock market fairer for everyone.
When politicians cannot profit from their official information, they may make decisions based on what is best for constituents rather than their wallets.
Stronger laws provide specific guidance about what trading is allowed, making it easier for members and staff to follow the rules correctly.
Proving that someone traded based on inside information can be difficult and costly. The government would need resources to monitor and prosecute violations.
Stricter rules could prevent Congress members from normal investing that is not actually based on inside information, limiting their personal financial choices.
Congressional staff earn modest salaries. Strict trading bans might make these jobs less attractive to talented people who could earn more elsewhere.
It can be hard to define exactly what counts as inside information versus information available to the public, which could create confusion.
Generated by AI from the bill text. Not a prediction and not legal or policy advice. The percentage is the model's own rating of each item — self-reported, and not a measure of how accurate it is.
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HR 10204
Legislative Branch Agencies Clarification Act
Individual contributions, grouped by employer · FEC
Where their individual donors work · 2026 cycle
Money from people who work there, not from the company. Not tied to this bill.
Itemized individual contributions via FEC, grouped by the employer each contributor self-reported. Companies and unions cannot contribute to federal candidates from their treasuries, so these totals are money from people who work at an employer — never from the organization itself. They are campaign contributions covering a full election cycle and are not connected to this bill.
Senate LDA lobbying disclosures
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