Stop Politicians Profiting from War Act of 2024
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Feb 6, 2024)
Stop Politicians Profiting from War Act of 2024
This bill prohibits Members of Congress, their spouses, and their dependent children from owning or trading stocks, bonds, commodities, futures, or any other form of security from a defense contractor or which are significantly based upon defense contractors.
Each current Member must divest within 120 days after the bill is enacted and each new Member must divest within 120 days after becoming a Member. However, Members and their spouses have 180 days to divest from specified complex investment vehicles. Placing assets into qualified blind trusts does not qualify as divestment.
The bill does not apply to certain investments, such as investments in widely held investment funds that are diversified and do not present a conflict of interest and investments held in government employee retirement plans.
A Member or spouse who violates the bill may be subject to a fine of up to $50,000 for each violation. The bill permits a Member, spouse, or dependent child who is required to divest property under the bill to avoid recognizing gain for income tax purposes from the sale of that property to the extent that the Member or spouse purchases permitted bonds or diversified investment funds within 60 days of the divestiture.
What just happenedAug 29, 2024
Referred to the Subcommittee on Commodity Markets, Digital Assets, and Rural Development.
Who’s behind it
- Introduced in HouseFeb 6, 2024
- Aug 29, 2024Committee
Referred to the Subcommittee on Commodity Markets, Digital Assets, and Rural Development.
Commodity Markets, Digital Assets, and Rural Development Subcommittee - Feb 15, 2024IntroReferralB00100
Sponsor introductory remarks on measure. (CR H644)
- Feb 6, 2024IntroReferralH11100
Referred to the Committee on Financial Services, and in addition to the Committees on House Administration, Agriculture, and Ways and Means, 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.
Ways and Means Committee - Feb 6, 2024IntroReferralH11100
Referred to the Committee on Financial Services, and in addition to the Committees on House Administration, Agriculture, and Ways and Means, 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.
Agriculture Committee - Feb 6, 2024IntroReferralH11100
Referred to the Committee on Financial Services, and in addition to the Committees on House Administration, Agriculture, and Ways and Means, 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.
Committee on House Administration - Feb 6, 2024IntroReferralH11100
Referred to the Committee on Financial Services, and in addition to the Committees on House Administration, Agriculture, and Ways and Means, 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.
Financial Services Committee - Feb 6, 2024IntroReferralIntro-H
Introduced in House
- Feb 6, 2024IntroReferral1000
Introduced in House