Bill · H.R. 9429· House(119-HR-9429)
The Public Service Accountability Act
- Introduced
- 6/24/2026
- Last activity
- 6/24/2026 — Referred to the Committee on Oversight and Government Reform, and in addition to the Committees on House Administration, and the Judiciary, 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.
- Sponsored by
- Maggie Goodlander
- Cosponsors
- - 0 - 1
- Introduced
- In Committee
What this bill would do
The Public Service Accountability Act aims to amend title 5 of the United States Code to restrict financial activities for certain officials. It prohibits covered individuals, including Members of Congress, their spouses, and dependents, from owning or trading covered investments. Covered investments include securities, commodities, and futures. The bill requires these individuals to divest existing covered investments within a specific timeframe. It also establishes penalties, such as fines and disgorgement of profits, for those who violate these restrictions.
Yes
Does this make what the government does easier for the public to see?+7
The bill requires ethics offices to publish descriptions of fines and reasons for them on a public website.
Does this give people more protection from unfair business practices?+3
The bill increases transparency and ethical standards for government officials which can reduce market manipulation risks.
The opposite
Would high-income households be better off under this?-4
The bill imposes significant financial restrictions and potential fines on high-income government officials.
Who it would affect, and how
Potential Positive Impacts for People
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Divestiture of Specific Assets: Covered individuals are allowed to sell their covered investments at fair market value, providing a way to exit these positions (Section 13152(b)(1)(B)).
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Exemptions for Diversified Funds: Individuals can still hold onto investments in widely held, diversified, and publicly traded investment funds, which allows for continued participation in the market through diversified means (Section 13151(3)(B)(i)).
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Exemptions for Government Debt: The bill allows for the continued ownership of United States Treasury bills, notes, or bonds, as well as State or municipal government debt (Section 13151(3)(B)(ii-iii)).
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Protection of Personal Interests: Certain assets, such as compensation from an employer for a spouse or dependent, interests in small businesses, and real estate holdings for personal residences, are not considered covered investments (Section 13151(3)(B)(iv-vi)).
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Transparency through Publication: To ensure accountability, supervising ethics offices are required to publish descriptions of assessed fines, the reasons for them, and the results on a public website (Section 13153(c)).
Potential Negative Impacts for People
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Restrictions on Ownership: Covered individuals, including the President, Vice President, and Members of Congress, are prohibited from directly or indirectly owning or trading covered investments like securities or commodities (Section 13152(a)(1)).
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Mandatory Divestiture Timelines: Individuals currently holding covered investments must divest them within 180 days of the act's enactment, while new covered individuals have only 90 days to comply (Section 13152(b)(2)).
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Financial Penalties: Violators of these rules face a fine equal to 10 percent of the value of the investment and must also disgorge any profits made from the prohibited transaction (Section 13153(a)(1)).
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Stringent Requirements for Special Circumstances: If a covered individual acquires a covered investment through means like marriage, inheritance, or divorce, they are required to divest that asset within 90 days (Section 13152(e)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Governance And Ideology
- Improves Government Transparency+7
- Demographic And Interest Groups
- Good For High Income Households-4
- Economy And Finance
- Improves Consumer Protection+3
- 6/24/2026
- Referred to the Committee on Oversight and Government Reform, and in addition to the Committees on House Administration, and the Judiciary, 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.
- 1 Cosponsor added.
- Introduced in House
Brian FitzpatrickRepublican · Pennsylvania