What does the bill actually restrict them from doing, buying individual stocks while holding office?
A bipartisan bill to ban members of Congress from trading individual stocks is gaining traction, with some versions including the president and vice president. The proposed legislation aims to prevent potential conflicts of interest and increase public trust in government. Key provisions include requiring divestment of existing stock holdings within a set timeframe and preventing future stock trading by members and their families.
Several bills have been introduced in both the House and Senate addressing this issue, including:
Bipartisan Ban on Congressional Stock Ownership Act:
This bill would prohibit members of Congress and their spouses from owning or trading stocks, bonds, commodities, futures, or any other form of security, according to Congress.gov.
TRUST in Congress Act:
This bill, introduced by Rep. Chip Roy and others, would require members of Congress, their spouses, and dependents to place certain investment assets into a qualified blind trust while serving in office.
No Corruption in Government Act:
This bipartisan bill, introduced by Rep. Marie Gluesenkamp Perez and Rep. Zach Nunn, would prevent members of Congress and their spouses from holding or trading individual stocks, end automatic pay raises, and triple the lobbying ban.
Ban Stock Trading for Government Officials Act of 2023:
This bill, introduced in the Senate, would prohibit government officials from trading stocks.
Google search AI results
