H.R. 7852 — No Getting Rich in Congress Act

This section establishes restrictions under new subchapter IV of chapter 131 of title 5, U.S. Code, prohibiting covered individuals—Members of Congress, the President, the Vice President, candidates for those offices (from political committee designation through campaign suspension, withdrawal, concession, or inauguration), and their spouses or dependent children—from buying or selling covered investments (i.e., digital assets, securities, commodities excluding precious metals, futures, or comparable interests via derivatives such as options or warrants, excluding diversified and publicly traded funds, U.S. Treasuries, state or municipal bonds, or spousal/dependent employment compensation) unless held in a qualified blind trust. It excepts trades by spouses or dependent children performed as part of their primary occupation if not owned by a covered individual; requires quarterly compliance disclosures to the supervising ethics office; and directs penalties for violations equal to transaction profits plus up to three times the investment's value (assessed by ethics office for Members/President/VP or by Attorney General for candidates/dependents), which Members or candidates may not pay using official allowances, office accounts, or campaign contributions. It further requires public website publication of violations and penalties and includes a conforming amendment to the chapter's table of sections.

This section establishes a lifetime ban on former Members of Congress and individuals appointed by the President with the advice and consent of the Senate from knowingly representing, aiding, or advising a foreign country of concern before any U.S. government officer or employee with the intent to influence official duties. (Thus, violators are subject to punishment under 18 U.S.C. 216.) A foreign country of concern includes the People's Republic of China, Democratic People's Republic of Korea, Russian Federation, Islamic Republic of Iran, or any other country designated by the Secretary of State.

This section establishes registration and quarterly disclosure requirements under the Lobbying Disclosure Act for spouses of covered Federal officials (i.e., covered executive branch officials and covered legislative branch officials as defined in 2 U.S.C. 1602)—with exemptions for spouses already registered as lobbyists under LDA section 4 (2 U.S.C. 1603)—beginning 45 days after guidance issuance (for current officials) or after the official begins service (for future officials), and terminating one year after the official is no longer covered or the marriage ends. (1) Registrations must be filed with the Secretary of the Senate and Clerk of the House; (2) quarterly reports, due 20 days after the end of each calendar quarter (January, April, July, October), must disclose covered advocacy activities by client—including specific issues (e.g., bill numbers), contacts with Congress or agencies, foreign entity interests, expenses, and client interests before covered officials (plus district operations for congressional spouses); (3) reports must be filed electronically and made publicly available online; (4) the Secretary and Clerk must issue implementing guidance within 180 days of enactment, including compliance assistance, electronic filing procedures, verification, noncompliance notifications (with U.S. Attorney referral after 60 days), and other administration; and (5) penalties include civil fines up to $200,000 for knowing violations (e.g., unremedied defective filings within 60 days) and criminal penalties of up to 5 years imprisonment for knowing and corrupt noncompliance.

This section prohibits a Member of Congress or spouse of a Member of Congress from serving as an officer or board member of any for-profit association, corporation, or similar entity. It provides an exception allowing a spouse serving in such a capacity prior to enactment or the Member's start of service to complete the remainder of the current board term (including as an officer), subject to (1) a prohibition on seeking a new officer position during that term and (2) ineligibility for any additional term while the spouse serves as a Member; requires such spouses to submit quarterly disclosure reports (due within 20 days after the end of each January-April, April-July, July-October, and October-January period) to the Secretary of the Senate or Clerk of the House detailing the service and any lobbying by the entity (including spouse involvement), with public posting on official websites; and defines "Member of Congress" as a Senator, Representative, Delegate, or Resident Commissioner.

This section expands gift disclosure requirements under clause 5 of House Rule XXV to include gifts received by a covered relative (i.e., a spouse legally married to a Member, Delegate, or Resident Commissioner who is not a lobbyist registered under the Lobbying Disclosure Act of 1995). It does so by (1) inserting ", including a covered relative" in multiple subparagraphs of paragraphs (c), (d), (e), and (f); and (2) adding a definition of covered relative to paragraph (g). Separately, the section applies equivalent disclosure requirements under Senate Rule XXXV paragraphs 2(c), 2(d), 2(e), 4(a), and 4(b) to spouses of Senators, excluding registered lobbyists.