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MEME Act

Bill Number
H.R. 1712
Origin Chamber
House
Congress
119th Congress, Session 1
Policy Area
Government Operations and Politics
Status
Introduced
Latest Action
2025-02-27: 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.
Last Updated
2026-02-11T20:57:28Z

Official 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.

Sponsor

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

Cosponsors (33)

Rep. Khanna, Ro [D-CA-17], Del. Norton, Eleanor Holmes [D-DC-At Large], Rep. Mullin, Kevin [D-CA-15], Rep. Grijalva, Raúl M. [D-AZ-7], Rep. Thanedar, Shri [D-MI-13], Rep. Torres, Norma J. [D-CA-35], Rep. Carson, André [D-IN-7], Rep. Swalwell, Eric [D-CA-14], Rep. Peters, Scott H. [D-CA-50], Rep. Soto, Darren [D-FL-9], Rep. Elfreth, Sarah [D-MD-3], Rep. Garamendi, John [D-CA-8], Rep. Barragán, Nanette Diaz [D-CA-44], Rep. Olszewski, Johnny [D-MD-2], Rep. Lieu, Ted [D-CA-36], Rep. Goldman, Daniel S. [D-NY-10], Rep. Smith, Adam [D-WA-9], Rep. Turner, Sylvester [D-TX-18], Rep. Tlaib, Rashida [D-MI-12], Rep. Pettersen, Brittany [D-CO-7], Rep. Morrison, Kelly [D-MN-3], Rep. Garcia, Robert [D-CA-42], Rep. Vargas, Juan [D-CA-52], Rep. Quigley, Mike [D-IL-5], Rep. Auchincloss, Jake [D-MA-4], Rep. Panetta, Jimmy [D-CA-19], Rep. Bynum, Janelle S. [D-OR-5], Rep. Budzinski, Nikki [D-IL-13], Rep. Costa, Jim [D-CA-21], Rep. Salinas, Andrea [D-OR-6], Rep. Magaziner, Seth [D-RI-2], Rep. McGovern, James P. [D-MA-2], Rep. Foushee, Valerie P. [D-NC-4]

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