Sell Your Stocks or Step Down Act

The Sell Your Stocks or Step Down Act would prohibit high-ranking federal officials, including the President, Vice President, Members of Congress, senior executive branch employees, and federal judges, from directly or indirectly owning or trading most stocks, commodities, futures, and digital assets. To comply with these rules, covered individuals must sell their existing eligible investments at fair market value within 30 days of taking office or the bill's enactment, though they may keep diversified mutual funds, government bonds, and certain other specific holdings. The legislation establishes strict penalties for non-compliance, including daily fees that can reach up to 50 percent of the value of the remaining portfolio and mandatory disgorgement of any profits made from illegal trades. These fines must be paid out of personal funds rather than government resources, with all collected penalties deposited into the Treasury specifically for deficit reduction.