Andrea Salinas (D-OR)

Stop Corrupt Trading Act

H.R. 10066 · House bill Crime and Law Enforcement

A Democratic bill with 6 Democratic cosponsors · See all 6 cosponsors

Last activity — Referred to the House Committee on the Judiciary.

In committee

Introduced and handed to a committee in the chamber it started in.

The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.

Its path through Congress

  1. Introduced
  2. In Committee

What this bill would do

The "Stop Corrupt Trading Act" aims to prohibit the purchase, sale, or exchange of nonpublic information. It targets the President and Vice President, referred to as covered persons, as well as covered entities they control or have a significant financial interest in. The bill defines nonpublic information as information gained through official positions that is not available to the general public. It establishes strict prohibitions against selling, exchanging, or purchasing this information for financial benefit. To enforce these rules, the act introduces criminal penalties, including fines and imprisonment. Additionally, it authorizes civil actions by the Attorney General to seek disgorgement and civil penalties.

Yes

  • Scored +7

    Does this make what the government does easier for the public to see?

    The bill enhances integrity by preventing high-level officials from profiting from nonpublic information gained through their office.

  • Scored +5

    Does this give the federal government more power?

    The bill expands federal authority to criminalize and civilly prosecute the misuse of nonpublic information by the President and Vice President.

The opposite

  • Scored -5

    Would people with substantial wealth be better off under this?

    The bill imposes strict penalties and forfeiture requirements on individuals trading on nonpublic information.

  • Scored -5

    Would the very wealthiest people be better off under this?

    The bill creates significant financial and criminal risks for those engaging in prohibited information exchanges.

  • Scored -5

    Would billionaires be better off under this?

    The bill targets potential profiteering that could be conducted by very wealthy entities or individuals.