“If you want to trade stocks, go to Wall Street,” declared GOP Rep. Anna Paulina Luna (FL-13) at a press conference on Sept. 3. Her statement showcases a bipartisan effort to end congressional stock trading through the proposed Restore Trust in Congress Act (RTCA).
The RTCA represents a rare bipartisan compromise, combining years of separate proposals into a single framework that has earned broad consensus. Leading sponsors include Democratic Rep. Seth Magaziner of Rhode Island and Republican Rep. Chip Roy of Texas, who have joined forces to push the measure forward.
If enacted, the RTCA would bar members of Congress—as well as their spouses and dependents — from trading or owning individual stocks, bonds, commodities, or complex investment vehicles. Lawmakers would be required to divest within 180 days of passage. Two exceptions remain: diversified mutual funds and government retirement plans. Non-compliance could result in penalties of up to $100,000 or 10 percent of the asset’s value.
The scope of the issue is substantial, as is its public support. Capitol Trades, a watchdog database that tracks lawmakers’ activity under the STOCK Act of 2012, reports that members of Congress executed more than 9,000 trades last year alone, representing roughly 706 million shares and assets. On average, lawmakers make about 10,000 trades annually.
For now, the RTCA applies only to Article I — the legislative branch. The executive branch would remain exempt, though supporters argue the bill could set a precedent for broader restrictions across government in the future.
While the bill enjoys broad bipartisan support, detractors argue that strict limits on personal financial activity could discourage people from seeking office. Rep. Luna dismissed that criticism: “If that’s what’s incentivizing you to run for office, then you do not belong here.”
Determined to secure a floor vote, Luna has also prepared a backup plan. “We’ve asked nicely for leadership to put this on the floor. If they don’t, there’s a discharge petition ready to go,” she said. A discharge petition would bypass committee gatekeeping and force the bill to the floor — though historically, such petitions are rarely successful.