A group of senators from both parties are planning to present a bill on Wednesday that seeks to prohibit members of Congress from engaging in stock trading.
Senators Gary Peters (D-Mich.), Jeff Merkley (D-Ore.), Josh Hawley (R-Mo.), and Jon Ossoff (D-Ga.) are scheduled to introduce their plan at a press conference later in the day.
Previous efforts to strengthen regulations on stock trading have not been enacted into law.
???? I'm urging @SpeakerJohnson to build on bipartisan momentum and bring legislation up for a vote to ban Members of Congress from trading individual stocks.
As we enter the final stretch of the 118th Congress, it is time to deliver this overdue reform for the American people. pic.twitter.com/VtckPqgJCl
— Rep. Abigail Spanberger (@RepSpanberger) July 10, 2024
The upcoming bill aims to tackle worries regarding possible conflicts of interest and insider trading within lawmakers.
This bipartisan effort is noteworthy as it shows that both Democrats and Republicans acknowledge the need for greater transparency and accountability in the legislative branch.
It's official.
For the first time ever, a group of Senators have announced a deal to ban congress members from trading stocks
The legislation is scheduled to be discussed on July 24th https://t.co/lL8WZlVm2D pic.twitter.com/DHXigxEbzr
— Nancy Pelosi Stock Tracker ♟ (@PelosiTracker_) July 10, 2024
If approved, the ban would impact every member of Congress, irrespective of their political affiliation.
The decision is a reaction to the grievances voiced by numerous Americans regarding the perceived absence of responsibility and the possible elevation of personal financial interests above public duty by elected representatives.
The odds of congress being banned from trading stocks is skyrocketing as Senators plan to announce deal to ban congress from trading on insider info.
Kalshi Prediction Markets pic.twitter.com/MW8qzjusBW
— Wall Street Silver (@WallStreetSilv) July 10, 2024
It is yet uncertain how the legislation will unfold and if it will receive bipartisan support.
Nevertheless, the implementation of this prohibition on stock trading by lawmakers is widely viewed as a positive stride in enhancing transparency and restoring public confidence in governmental operations.
How about an age limit on being eligible to be in congress like the rest of us in America..age 65 ..mandatory retirement…should thin out congress considerably
How about term limits of 2 terms and then your done, no government pay for life or free medical for life at the tax payers expense. Let’s have these government welfare recipients start earning a living like the American people have to do.
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polosi needs to be pissed off as that’s how she made her millions, she made it illegal for insider trading but this old hag thinks that she is above the law. She needs to be buried under the jail for all of the violations the Constitution that she has commited.
Yes Dennis.!
That same law Piglosi violated has put other Americans in prison.
Term limits yes.
Insider Trading baned from all law maker’s yes.!
Imprisonment if violated yes.!
Pelosi and her ilk’s pastime money making by the millions should get killed.
Victory Hooray awesome
500 dollar fine? I hope there will be more consequences than that!! A slap on the wrist is not enough. Anyone else would end up with much more severe penalties!!!!
Nancy Pelosi is sure to vote against it…if it passes, I wouldn’t be surprised to see her retire.