#CongressTradingBan 🔥 Recent Developments
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🏛️ Legislative Responses
End Congressional Stock Trading Act (H.R. 1908): .
TRUST in Congress Act: A bipartisan initiative led by Reps. Seth Magaziner (D-RI) and Chip Roy (R-TX), this act would require lawmakers and their families to divest from individual stock holdings or place them in blind trusts during their tenure .
No Corruption in Government Act: Proposed by Reps. Marie Gluesenkamp Perez (D-WA) and Zach Nunn (R-IA), this legislation aims to ban stock trading by members of Congress, end automatic pay raises, and extend lobbying prohibitions .
🧑⚖️ Public and Political Reactions
The recent events have reignited debates over the effectiveness of the STOCK Act, a 2012 law intended to prevent insider trading by requiring timely disclosure of financial transactions by lawmakers. Critics argue that the act lacks sufficient enforcement mechanisms, as violations often result in minimal penalties, and no member of Congress has been prosecuted under its provisions .
The convergence of these events has intensified calls for stricter regulations to prevent potential conflicts of interest and restore public trust in governmental institutions.