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Senator Cynthia Lummis@SenLummis · Sep 14, 2026

President Trump had already agreed to the toughest ethics restrictions on federal officials in American history to get…

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Summary

President Trump agreed to historically strict ethics restrictions on federal officials and gave further concessions including state attorney general enforcement power to secure bipartisan support for a financial regulation bill. The legislation includes 120+ additional Democratic requests and represents the toughest ethics reform in U.S. history, though some Democrats still threaten to vote against it.

Summarized by ThreadOut AI from the full thread. May miss nuance — read the thread below.

  1. #1

    President Trump had already agreed to the toughest ethics restrictions on federal officials in American history to get this bill done. Now, to close the deal, he went further — including giving state Attorneys General enforcement power. 🧵

  2. #2

    Back in July, Trump voluntarily put himself, the VP, every federally elected official, judges, and their spouses under the strictest ethics rules this country has ever seen. Most people in Washington never would've offered that. Democrats still wanted independent, outside enforcement, not DOJ alone — so Trump went back to the table and gave more.

  3. #3

    The final text reflects substantially all of the Tillis-Gallego framework, added on top of what was already historic. State AGs now have direct authority to enforce these ethics rules on federal officials. They can also go after exchanges and issuers under consumer protection law. Bad actors get hit coming and going.

  4. #4

    That's on top of 120+ other changes Democrats asked for and got — Treasury circuit-breaker powers for community banks, tighter conflict-of-interest rules for exchanges, guardrails on affiliate trading. Republicans said yes to all of it so this bill could move. And some Democrats are still hunting for reasons to vote no.

  5. #5

    A no vote tomorrow kills the toughest ethics reform this country has ever put on the books, kills consumer protections for every American holding digital assets, and hands the future of this industry to our foreign competitors.

  6. #6

    President Trump gave more than anyone expected, twice. Time for Democrats to take yes for an answer.