Both Democrats and Republicans favor a ban and are working on legislation with stiffer restrictions on lawmakers' portfolios.
Democratic leaders in Congress on Wednesday indicated they'll support stronger restrictions on stock trading for members of Congress, including banning the practice entirely.
In the House, Speaker Nancy Pelosi has charged the House Administration Committee with writing new rules but she also has some changes she wants to see made. "The Supreme Court has no disclosure. It has no reporting of stock transactions, and it makes important decisions every day," she said. Proposals to limit or ban stock trading have garnered the support of members across the ideological spectrum, from progressive Michigan Democrat Rashida Tlaib to conservative Florida Republican Matt Gaetz. Both signed ato House leadership last month urging them to consider legislation that would bar members from owning or trading individual stocks.
Another unlikely bipartisan pair in the House — Virginia Democrat Abigail Spanberger and Texas Republican Chip Roy — have introduced thethat would require members of Congress as well as their spouses and children to put certain investment assets into a blind trust while they're legislating in Washington. Democratic Senators Jon Ossoff and Mark Kelly introduced a companion bill, theCongress formally banned trading stock based on nonpublic information with the 2012 STOCK Act.
"No one in this country should ever have to wonder what motivates a lawmaker. Is that what that lawmaker believes is in the best interest of the American people or in the best interest of the lawmaker himself or herself? That shouldn't be an issue," Warren said.
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