New House Bill Would Bar Lawmakers From Investing in Foreign Adversaries

Reps. Tom Kean Jr., R-N.J., and Hillary Scholten, D-Mich., introduced a bill last week that would prohibit lawmakers from making personal financial investments that involve China, Russia, Iran or other “foreign adversaries.”

The sponsors said that members of Congress shouldn't profit from countries that seek to harm the U.S.

If the proposed Foreign Adversary Investment Prohibition Act becomes law, House members and senators could be fined $5,000 for a first offense, $10,000 for a second offense, and $15,000 for subsequent offenses. The bill was referred to the House Financial Services and Agriculture committees.