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H.R. 7008: Stop Insider Trading Act

119th Congress · introduced 2026-01-12 · Congress · Latest: Cloture on the motion to proceed to the measure not invoked in Senate by Yea-Nay Vote. 53 - 47. Record Vote Number: 253.

federal

What does this mean?

Official title

Stop Insider Trading Act

Plain summary

Stop Insider Trading Act This bill generally prohibits Members of Congress and their spouses and dependent children from purchasing stocks and requires public notice before these individuals may sell stocks. Specifically, Members of Congress and the spouses and dependent children of Members of Congress may not purchase covered investments. Between 7 and 14 days before a Member or a covered spouse or dependent sells a covered investment, the relevant Member must file public notice of the intent to sell with the Clerk of the House of Representatives or the Secretary of the Senate, as appropriate. The Clerk or Secretary must publish this notice online. If the individual decides not to sell the covered investment, the notice must be withdrawn. Under the bill, a covered investment is a security issued by a publicly traded company or a comparable economic interest. Some investments are exempt, including interest in a widely held investment fund and certain investments held in a trust. Violations of these provisions are subject to a fee and, in the case of a purchase, a requirement to sell the covered investment. The fee must equal (1) the greater of $2,000 or 10% of the transaction value, and (2) any net gain realized from the transaction during a specified period. The fee may not be paid using campaign donations or Members’ official allowances. Certain transactions by covered spouses and dependents are exempt, including transactions made on behalf of another person or made as part of compensation from the individual’s employer.

Congressional Research Service summary (Reported to 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

Stop Insider Trading Act

Source: Congressional Research Service summary (Reported to House)

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The strongest published arguments

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Alternatives

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Officials and money

Sponsor: Rep. Steil, Bryan [R-WI-1] · 93 cosponsors

Money: CBO cost estimate: H.R. 7008, Stop Insider Trading Act (2026-03-19) No linked contracts or vendors yet.

Recorded votes

Words on this page, explained (4)
Appropriation
Money a legislature sets aside by law for a specific purpose. Government agencies may spend public money only as it has been appropriated.
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Exemption
A rule that removes certain people, property or activities from a tax or requirement.
Securities
Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong119-hr7008 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills