H.R. 3550: RESTRICT Act

112th Congress · introduced 2011-12-02 · Congress · Latest: Referred to the Subcommittee on the Constitution.

federal

Follow this bill, step by step

Where it came from: introduced 2011-12-02 · official record
Who proposed it: Rep. Duffy, Sean P. [R-WI-7] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the Subcommittee on the Constitution. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

RESTRICT Act

Plain summary

Restoring Ethical Standards, Transparency, and Responsibility in Congressional Trading Act or RESTRICT Act - Amends the Ethics in Government Act of 1978 to require the President, the Vice President, Members of Congress, and certain federal officers and employees to: (1) place all of his or her stocks, bonds, commodities futures, and other forms of securities, including securities held jointly with a spouse or dependent child, in a qualified blind trust; or (2) file a report with the appropriate ethics officer, within three business days after a transaction is settled, on any purchase, sale, or exchange in stocks, bonds, commodities futures, and other forms of securities, including those jointly held with the individual's spouse or dependent child. Exempts from this requirement any financial interests in or income derived from: (1) the Civil Service Retirement System (CSRS) or the Federal Employees' Retirement System (FERS), including the Thrift Savings Plan (TSP); (2) any other federal retirement system for U.S. officers and employees, including the President, or for members of the uniformed services; or (3) benefits received under the Social Security Act. Subjects violators of this Act to specified civil and criminal penalties.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

RESTRICT Act

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Duffy, Sean P. [R-WI-7] · 6 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Bill Huizenga (R-MI)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (3)

Appropriation: Money a legislature sets aside by law for a specific purpose. Government agencies may spend public money only as it has been appropriated.
Bond: A way to borrow money. A government sells bonds to raise money now and promises to pay it back with interest over time. Bonds repaid from taxes often need voter approval.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112hr3550.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/hr>

Record fed-us-cong112-hr3550 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112