#CongressTradingBan There's growing momentum in Congress to ban or limit stock trading by lawmakers. Democratic lawmakers, including Rep. Alexandria Ocasio-Cortez and Sen. Adam Schiff, are pushing for restrictions due to concerns about insider trading and potential market manipulation.
*Key Proposals:*
- *The TRUST in Congress Act*: This bipartisan bill, reintroduced by Rep. Chip Roy and Rep. Seth Magaziner, would require members of Congress, their spouses, and dependents to place investment assets into a qualified blind trust while serving in office.
- *Ban on Stock Ownership*: Some proposals, like the one backed by Ocasio-Cortez, would ban lawmakers from owning or trading stocks altogether.
*Rationale:*
- Preventing insider trading and potential market manipulation
- Restoring public trust in government
- Ensuring lawmakers prioritize public interest over personal gain
*Support:*
- Several advocacy groups, including the Project on Government Oversight and Citizens for Responsibility and Ethics in Washington, endorse the TRUST in Congress Act.
- House Minority Leader Hakeem Jeffries has expressed support for banning lawmakers from trading stocks while in office.