A bipartisan group of senators announced a bill to prohibit members of the House and Senate from participating in stock trading.
The bill was announced during a press conference by Senators John Ossoff (D-GA), Gary Peters (D-MI), Jeff Merkley (D-OR), and Josh Hawley (R-MO).
“Proud to announce a tough, new bipartisan ban on stock trading. To be voted on in committee this month,” Hawley wrote on X. “No loopholes. No blind trusts. Let’s get this done.”
Ossoff said the measure is “long overdue.”
“Democrats, Independents, Republicans, overwhelmingly agree that members of Congress should not be playing the stock market while we legislate and while we have access to confidential and privileged information,” he said. “This is long overdue. This is necessary.”
The Senate measure comes as twenty representatives sent a letter to House Speaker Mike Johnson (R-LA) and House Minority Leader Hakeem Jeffries (D-NY), urging them to “hold a vote on legislation to prohibit members of Congress from owning or trading stocks.”
The letter noted that the majority of all Americans support the effort: “According to recent polling, 86 percent of Americans– including 87 percent of Republicans, 88 percent of Democrats, and 81 percent of Independents– support prohibiting members of Congress and their families from trading stocks.”
“In a hyper-partisan political environment where American approval ratings of Congress are at an all-time low, this is a common-sense and bipartisan change, making it crystal clear that we come to Washington to serve our constituents, not to serve our own financial interests.”
