The #CongressTradingBan refers to proposed legislation aimed at prohibiting members of the US Congress from trading stocks and engaging in other investment activities that could potentially create conflicts of interest. This move is driven by concerns that lawmakers may be using insider information to benefit themselves financially.
Proponents of the ban argue that it would help restore public trust in the government and ensure that lawmakers prioritize the interests of their constituents over personal gain. Some key aspects of the proposed ban include ¹ ²:
- *Blind Trusts*: Requiring lawmakers to place investment assets into blind trusts to prevent them from leveraging their power for personal financial benefit
- *Prohibition on Stock Ownership*: Some proposals would ban lawmakers from owning stocks altogether, while others would require them to divest or place assets in a trust
- *Increased Transparency*: Enhancing disclosure requirements to prevent potential insider trading and promote accountability
The ban has garnered bipartisan support, with lawmakers like Rep. Alexandria Ocasio-Cortez and Rep. Chip Roy advocating for the TRUST in Congress Act.
