#CongressTradingBan Calls for a #CongressTradingBan have gained momentum due to concerns about potential insider trading and conflicts of interest. Several bipartisan bills, like the TRUST in Congress Act and the No Corruption in Government Act, aim to prevent lawmakers and their families from trading individual stocks while in office, often requiring them to divest or use blind trusts.
Recent data suggests a significant portion of Congress members engage in stock trading, sometimes raising ethical questions. Public opinion polls indicate strong support for such a ban, with a large majority of Americans favoring it. Even President Biden has voiced support for changing the law.
While the STOCK Act of 2012 aimed to increase transparency through disclosure requirements, critics argue it hasn't gone far enough in preventing potential abuse. Proposed bans often include measures to prevent profiting from non-public information gained through their official duties, ultimately aiming to restore public trust in government.