Nunn Joins Bipartisan Effort to Ban Congressional Stock Trading

WASHINGTON, D.C. - Representatives Zach Nunn (IA-03), Chip Roy (TX-21), and Seth Magaziner (RI-02) today introduced the Restore Trust in Congress Act , bipartisan legislation to ban Members of Congress and their immediate family members from owning or trading individual stocks during their time in office.

The bill aims to eliminate financial conflicts of interest in Congress by requiring Members to fully divest from individual stocks and other specified investments, with limited exceptions.

"This isn't a red or blue issue. Banning stock trades in Congress is about accountability, and every American should demand it from their elected officials. After my combat service and election to Congress, I sold all my stock because Iowans deserve leaders who serve the public, not profit from insider information," said Rep. Zach Nunn . "Last year alone, Members of Congress made over $200 million in market gains. Nancy Pelosi's trades returned more than 40 percent. That's what insider trading looks like, and it's a betrayal of public trust. I'm proud to help lead this bipartisan effort to end self-enrichment in Washington, enforce real penalties, and restore trust in our institutions."

According to publicly available data, in 2024, nearly 95% of Members of Congress held individual stocks and posted market returns that far exceeded what everyday Iowans could expect to earn in a typical investment portfolio. While the S&P gained roughly 25% last year, Members who actively traded stocks averaged returns of 31%. This resulted in more than $200 million in market gains in 2024.

Furthermore, lawmakers favored direct stock ownership over diversified investment vehicles like mutual funds or exchange-traded funds (ETFs). The most heavily invested sectors included Technology ($159M), Financial Services ($72M), and Energy ($44M)-industries that are also major targets of congressional legislation and lobbying, creating major potential for conflicts of interest.

This pattern underscores why the American people are losing trust in their government. When lawmakers consistently outperform the market while holding assets in sectors they oversee, the appearance of insider advantage is impossible to ignore.

"It's far past time to ban Members of Congress from day trading stocks, and for the first time, a bipartisan coalition is standing together behind a united proposal to do just that," said Rep. Chip Roy . "The Restore Trust in Congress Act ensures that members of Congress will no longer be able to put the stock market first in their official decisions. This bill strikes a balance between being easy to comply with, but without tons of loopholes for Members to continue trading while on the job. We must vote on this bill and put this conflict of interest to bed for once and for all. I look forward to seeing the Restore Trust in Congress Act move through the legislative process."

The Restore Trust in Congress Act sets firm, enforceable rules to prevent financial conflicts of interest by:

• Banning Members of Congress, their spouses, dependent children, and trustees from buying, selling, or owning individual stocks, securities, commodities, or futures
• Allowing exceptions for diversified mutual funds, ETFs, U.S. Treasury and municipal bonds, small business interests, and personal residences held in LLCs
• Requiring current Members to divest within 180 days of enactment and newly elected Members within 90 days
• Providing limited exemptions for family trusts and occupationally related investments
• Imposing financial penalties for violations, including a civil fine of $1,000 or the amount of profit gained or loss avoided-whichever is greater-for each prohibited transaction, to be paid personally by the Member
• Mandating a public ethics disclosure for any violation

In addition to the Restore Trust in Congress Act , Rep. Nunn is leading the bipartisan No Corruption in Government Act to prevent Members of Congress and their spouses from holding or trading individual stocks, repeal current law that automatically provides a raise for Members of Congress each year, and triple the length of the lobbying ban for Members of Congress.

Text of the bill can be found here .

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