Market Probability

No market

Status

Introduced

Committee

Floor Vote

Other Chamber

Signed

Referred to the Committee on Oversight and Government Reform, and in addition to the Committees on the Judiciary, and House Administration, 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.

Sponsor

Rep. Liccardo, Sam [D-CA-16](D-CA-16)

33 cosponsors

Summary

Modern Emoluments and Malfeasance Enforcement Act or the MEME Act

This bill prohibits the President, the Vice President, Members of Congress, those holding Senior Executive Service positions, admirals, generals, and other federal public officials from engaging in or benefiting from the issuance, sponsorship, or promotion of certain assets. The spouse and dependent children of such an official are also covered by the prohibition.

Assets covered by the bill are securities, security futures, commodities, digital assets such as cryptocurrency or a meme coin, as well as derivatives, options, warrants, mutual funds, or exchange traded funds of the preceding assets.

The prohibition applies to (1) such officials during their term of service and for 180 days prior to and after their service, and (2) the spouse and dependent children of such an official during that same period.

Civil and criminal penalties under the bill include disgorging (giving) to the Treasury any profits from prohibited transactions, fines, and imprisonment for up to five years. The bill provides additional penalties for such prohibited activities if they involve bribery or insider trading.

The U.S. Office of Special Counsel may also determine that federal employees or officers serving in other positions are covered by the prohibition.

Subjects

Business ethicsCivil actions and liabilityCommodities marketsFamily relationshipsFederal officialsFinancial services and investmentsGovernment employee pay, benefits, personnel managementGovernment ethics and transparency, public corruptionPresidents and presidential powers, Vice PresidentsSecurities

Actions (6)

Referred to the Committee on Oversight and Government Reform, and in addition to the Committees on the Judiciary, and House Administration, 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.

Feb 27, 2025House floor actions

Referred to the Committee on Oversight and Government Reform, and in addition to the Committees on the Judiciary, and House Administration, 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.

Feb 27, 2025House floor actions

Referred to the Committee on Oversight and Government Reform, and in addition to the Committees on the Judiciary, and House Administration, 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.

Feb 27, 2025House floor actions

Introduced in House

Feb 27, 2025Library of Congress

Sponsor introductory remarks on measure. (CR H893)

Feb 27, 2025Library of Congress

Introduced in House

Feb 27, 2025Library of Congress