Sell Your Stocks or Step Down Act

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Introduced 2026-08-31Topic: governance ethics

Summary

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This bill would ban the President, Vice President, Members of Congress, congressional staff, senior executive branch officials, federal judges, and the spouses and dependent children of most of these officials from owning or trading stocks, commodities, futures, digital assets, and event (prediction market) contracts. Covered people would have 30 days after the law takes effect, or after taking office, to sell these investments; certain items such as diversified mutual funds, Treasury and municipal bonds, and small business interests would be exempt. People who miss the deadline would pay a daily fee of 10 percent of the value of the investments they still hold, capped at 50 percent. Those who trade in violation would pay the value of the trade plus $10,000 and give up any profits, with the money going to deficit reduction. Ethics offices could subpoena financial records, withhold federal pay to collect fees, and would post fines online.

Full text and official record on Congress.gov

Action history

Date	Chamber	Action	Status effect
2026-08-31	House	Referred to the Committee on Oversight and Government Reform, and in addition to the Committees on House Administration, the Judiciary, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.	refer
2026-08-31	House	Referred to the Committee on Oversight and Government Reform, and in addition to the Committees on House Administration, the Judiciary, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.	refer
2026-08-31	House	Referred to the Committee on Oversight and Government Reform, and in addition to the Committees on House Administration, the Judiciary, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.	refer
2026-08-31	House	Referred to the Committee on Oversight and Government Reform, and in addition to the Committees on House Administration, the Judiciary, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.	refer
2026-08-31		Introduced in House	introduce
2026-08-31		Introduced in House	introduce

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