Members of Congress and their spouses could not own or trade most individual stocks while in office. Former Members would wait longer before lobbying Congress. Member pay raises would no longer happen automatically.
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No Corruption in Government Act is a House bill in committee. The latest recorded action: Referred to the Committee on House Administration, and in addition to the Committees on Ways and Means, the Judiciary, and Oversight and Government Reform, 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.
Latest action on H.R. 358: Referred to the Committee on House Administration, and in addition to the Committees on Ways and Means, the Judiciary, and Oversight and Government Reform, 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.
Who this affects: This bill mainly affects Members of Congress, their spouses, and former Members who want lobbying jobs after leaving office. It also affects congressional ethics offices, which would have to collect statements, post them online, and run audits. Lobbying firms and groups that hire former lawmakers could face longer waits before those former lawmakers can lobby Congress.
Why this matters: This bill matters because lawmakers can make decisions that affect markets while also owning investments. The bill would try to separate those roles by limiting what Members and spouses can own or trade. It would also make the public record clearer through yearly statements and audits. The longer lobbying bans could change career plans for former Members, but the overall effect on lobbying is uncertain.
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