No Pardon Paydays Act of 2026
Summary
The No Pardon Paydays Act of 2026 (HR10290) was introduced in the House on 2026-09-03 and referred to committees. It requires the President to publish a justification for each pardon and limits political contributions from pardon recipients to $1,000 per entity. The bill authorizes no funding and is in early legislative stage with zero market impact.
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Key Takeaways
- 1.No market impact – the bill authorizes no spending and affects no companies
- 2.Early legislative stage with low probability of passage
- 3.Even if enacted, compliance costs for individuals are negligible to public markets
Market Implications
No publicly traded companies are affected because the bill imposes only individual-level campaign contribution limits and a pardon-reporting requirement. The $1,000 contribution cap applies to individuals, not corporations. No contract, tax credit, or regulatory change touches any sector. Markets see zero measurable impact now or upon any plausible passage path.
Full Analysis
- What happened: Rep. Subramanyam (D-VA) introduced HR10290 on September 3, 2026. It was referred to the Judiciary and House Administration committees. The bill requires the Pardon Attorney to submit a written analysis of a pardon recipient's criminal history and risk of recidivism within 30 days of a pardon. It also limits political contributions from pardon recipients to $1,000 per authorized committee, leadership PAC, or entity making independent expenditures for the President. This is an early-stage bill with no floor action or hearings. 2) The money trail: The bill authorizes no funding whatsoever. It imposes a contribution cap and reporting requirement. No federal spending is created. 3) Convergence: No related bills, procurement actions, or presidential actions were provided. This is an isolated procedural ethics bill. 4) Structural winners and losers: No publicly traded companies are directly affected. The bill targets individual behavior, not corporate revenue or costs. No sectors experience a measurable financial change. 5) Timeline: The bill must pass both Judiciary and House Administration committees, then the full House, then the Senate, then be signed by the President. At two referrals and no co-sponsors beyond the original three, passage probability is near zero this Congress.
Key Legislators
Connected Signals
Matched on shared policy language across AI analyses, with ticker & timing weight
Presidential Memorandum: Presidential Determination Pursuant to Section 303 of the Defense Production Act of 1950, as Amended, on Development, Manufacturing, and Deployment of Large-Scale Energy and Energy‑Related Infrastructure
Digital Asset Market Clarity Act of 2025
Executive Order: Integrating Financial Technology Innovation into Regulatory Frameworks
Community Bank Regulatory Tailoring Act
Executive Order: Securing the Nation Against Advanced Cryptographic Attacks
MAXIMUS FEDERAL SERVICES, INC.: $339M Department of Education Contract
Executive Order: Restoring Integrity to America's Financial System
NELNET SERVICING LLC: $155M Department of Education Contract
Related Presidential Actions
Executive orders & memoranda affecting the same sectors or companies
Securing the Nation Against Advanced Cryptographic Attacks
This executive order mandates a nationwide transition of federal information systems and critical infrastructure to post-quantum cryptography (PQC) by specific deadlines (2030 for key establishment, 2031 for digital signatures), directs NIST to lead technical guidance and a pilot project, requires agencies to appoint PQC migration leads, and orders the Federal Acquisition Regulatory Council to propose rules requiring contractors to comply with NIST PQC standards by 2030.
National Homeownership Month, 2026
This proclamation formalizes National Homeownership Month and details several ongoing or proposed policy actions: Fannie Mae and Freddie Mac are directed to purchase $200 billion in mortgage-backed securities to lower borrowing costs; an executive order bans large institutional investors from buying single-family homes; and the Administration calls on Congress to pass the 21st Century ROAD to Housing Act to make these reforms permanent. The action also reaffirms efforts to restrict taxpayer-backed loans to only law-abiding citizens, targeting fraud and illegal immigration as a means to improve housing affordability.
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