# Plain Language Summary: No Corruption in Government Act

This bill takes aim at three main practices involving members of Congress: their personal stock trading, their ability to become lobbyists after leaving office, and their automatic pay raises. The goal is to reduce what supporters see as conflicts of interest and corruption in government.

The first major part prohibits members of Congress and their spouses from buying, selling, or holding individual stocks, bonds, and commodities while serving in office. There are some exceptions—they can still invest in diversified mutual funds, exchange-traded funds, Treasury bonds, and the federal employee retirement savings plan (the Thrift Savings Plan). If someone violates this rule, they have to give back any profits they made to the U.S. Treasury, they can't deduct any losses from their taxes, and they could face civil fines. The idea here is to prevent members from making investment decisions based on insider information they gain through their work in Congress. New members would have seven days after taking office to get their personal investments in compliance.

The second part extends the "cooling-off period" that prevents former members from becoming lobbyists. Currently, former senators can't lobby Congress for two years after leaving office, and former House members face a one-year ban. This bill would increase those periods to six years for senators and three years for House members. This means if you leave Congress, you'd have to wait significantly longer before you could be paid to influence your former colleagues on behalf of private clients or companies.

The third part eliminates the automatic cost-of-living adjustment (COLA) that currently allows congressional salaries to increase each year with inflation. Instead, any future pay raises would require Congress to vote on them explicitly. This means members' salaries would stay frozen unless they pass a new law to increase them.

No Corruption in Government Act

Nunn, Zachary

No Corruption in Government ActThis bill lengthens the limitations on former Congress Members'&nbsp;contact with the legislative branch&nbsp;and restricts certain financial transactions by&nbsp;Members&nbsp;and their spouses.Specifically, the bill lengthens the cooling off period that prohibits former Members from contacting Members, officers, or employees of the House or Senate on behalf of a third party. During this post-employment waiting period, a former Member may not communicate with the intent to influence the official actions of a Member, officer, or employee of the House of Representatives or Senate. The bill lengthens the waiting period from one to three years after a Member of the House leaves&nbsp;office and from two to six years after a Senator leaves office.Next, the bill prohibits Members of Congress and their spouses from&nbsp;holding, buying, or selling financial instruments such as stocks, securities futures, and commodities while the Member holds office. However, covered financial instruments may be held in a qualified blind trust. A Member or spouse who violates this provision must disgorge any resulting profits, may not take a related financial loss as an income tax deduction, and may be fined&nbsp;up to&nbsp;$50,000. The supervising ethics office of each chamber must audit Members' compliance with these&nbsp;requirements every two years.&nbsp;Additionally, the bill eliminates automatic annual increases to Members' pay beginning in the 120th Congress.