The "No Getting Rich in Congress Act" restricts financial trading by federal officials, imposes a lifetime lobbying ban on former officials regarding foreign countries of concern, and mandates stricter disclosure and ethics requirements for the spouses of senior government officials.
Haley Stevens
Representative
MI-11
The "No Getting Rich in Congress Act" aims to prevent conflicts of interest by restricting financial trading, corporate board service, and lobbying activities for federal officials and their spouses. The bill mandates stricter financial disclosures, imposes a lifetime lobbying ban on former officials regarding foreign countries of concern, and requires spouses of senior officials to register and report advocacy activities. These measures are designed to increase transparency and prevent the abuse of public office for personal financial gain.
No Getting Rich in Congress Act: New Ban on Stock Trading and Foreign Lobbying Hits the Hill
This bill aims to slam the door on the 'revolving door' of Washington wealth by banning Members of Congress, the President, and the Vice President from trading individual stocks or sitting on corporate boards. Under the new rules, these officials (and their spouses and kids) can no longer buy or sell specific securities, digital assets, or commodities unless they are tucked away in a qualified blind trust. While they can still invest in diversified mutual funds or U.S. Treasuries—the kind of stuff most regular 401(k)s are built on—the days of picking individual tech stocks or crypto while sitting on committees that regulate those industries would be over. If they get caught breaking these rules, they face a penalty of giving up their profits plus a fine of up to three times the value of the investment, and they can’t use campaign donations or office budgets to pay those fines.
Cutting the Corporate and Foreign Ties
The legislation also targets how former officials make money after they leave public service. It imposes a lifetime ban on former Members of Congress and Senate-confirmed appointees from lobbying for 'countries of concern' like China, Russia, Iran, and North Korea. For those still in office, the bill effectively ends the side-hustle of corporate board service. Members and their spouses are prohibited from serving as officers or directors for any for-profit companies. There is a small grace period for spouses already on boards to finish their current terms, but they can’t sign up for more. This means a Senator’s spouse couldn’t take a lucrative seat on a pharmaceutical board while the Senator is voting on drug pricing, removing a major avenue for indirect influence.
Spousal Scrutiny and Gift Rules
Because influence often runs through family connections, the bill pulls back the curtain on what spouses are doing behind the scenes. Spouses of senior officials who engage in 'covered advocacy'—basically using their unique access to help clients—must now register and file quarterly reports just like professional lobbyists. These reports have to detail exactly which bills they are trying to influence and whether their clients have business in the official’s home district. Additionally, the same strict gift-reporting rules that apply to politicians will now apply to their spouses. Whether it’s an expensive dinner or a luxury trip, if a spouse receives it, the public will likely see it on a disclosure form, making it much harder for special interests to bypass ethics rules by 'gifting' to the family instead of the official.