# Plain Language Summary: Bipartisan Restoring Faith in Government Act

This bill would ban members of Congress, their spouses, and their dependent children from owning or trading individual stocks, bonds, commodities, and similar investments. The goal is to prevent lawmakers from making personal investment decisions based on inside information they gain while doing their jobs in government. Right now, members of Congress can legally buy and sell stocks just like anyone else, which critics argue creates conflicts of interest—a member might vote a certain way partly because it would make their personal investments more valuable.

The bill allows a few exceptions to this ban. Members and their families could still own mutual funds (diversified investment funds), U.S. Treasury bonds, state and local government bonds, and accounts through the federal Thrift Savings Plan, which is a retirement savings program for government employees. These exceptions exist because they're considered safer from conflicts of interest since they're either widely diversified or backed by government. Members would have 90 days from when the law takes effect to sell off any stocks or individual investments they currently own. If someone inherits an investment or receives one as part of a job, they'd have 90 days from receiving it to divest.

If a member violates these rules, the ethics office can refer them to the Attorney General for prosecution. The government could fine them up to $50,000, and importantly, they couldn't use taxpayer money or campaign funds to pay that penalty. The bill also includes a tax benefit: if someone sells an investment to comply with this law, they can avoid paying capital gains taxes on the sale, which makes it financially easier to comply. The ethics office would issue certificates to members who follow the rules and publish these certificates online so the public can see who's in compliance.

Bipartisan Restoring Faith in Government Act

Bipartisan Restoring Faith in Government Act This bill prohibits Members of Congress (and their spouses and dependents) from purchasing or selling certain investments, such as individual stocks and related financial instruments that are not diversified investment funds, U.S. Treasury securities, or other specified holdings. Members must divest prohibited investments within 90 days by selling them or placing them in a qualified blind trust. The bill also restricts communications between trustees and beneficiaries related to investments held in qualified blind trusts. Members must certify their compliance with the supervising ethics office, which must make the certificates publicly available online. Violations are subject to specified civil penalties. Additionally, losses stemming from a transaction involving a prohibited investment that violates the provisions of the bill may not be deducted from income taxes.