More than 20 lawmakers on Friday called on House leadership to bring to the floor for a vote a bill that would ban members from participating in the stock market.
The group said in a letter to Speaker Mike Johnson (R-Louisiana), House Minority Leader Hakeem Jeffries (New York), and House Minority Leader Hakeem Jeffries (New York). “This is an important step to ensure that MPs work for their constituents, not themselves.” Top member of the House Administration Committee.
The members are Rep. Angie Craig (D-Minn.), Rep. Andy Kim (D.N.J.), Rep. Joe Neguse (D-Colorado), and Rep. Raja Krishnamoorthi (D-Ill.). , led by Representative Katie Porter (D-Calif.). ) and Abigail Spanberger (D-Va.) urged House leaders to advance legislation that would ban stock trading for all members, their spouses and dependents under 18.
Most of the remaining signers of the letter were Democrats, but one Republican, Montana Rep. Matt Rosendale, also signed.
Efforts to ban members of Congress from trading stocks have received renewed attention in recent years following high-profile incidents, but repeated attempts to bring the bill up for a vote have failed. .
Specifically, the organization states that “ownership or trading in securities, commodities, futures, derivatives, options, or other similar financial assets (where such investments are traded through investment vehicles managed by the covered person)'' including).
Under such a prohibition, members and their families may withdraw from prohibited investments, place them in blind trusts, or invest in “widely held and diversified mutual funds, exchange-traded funds, or U.S. Treasury securities.” You need to diversify your investments by investing in short-term bills and securities. , or bond. ”
“There is no shortage of bipartisan legislation that is modeled on an established set of common principles and ready for a vote,” the lawmakers wrote.
“We know that the overwhelming majority of Americans believe that members of Congress should not be allowed to trade stocks while in office,” they added. “We respectfully urge our elected officials to ensure they adhere to the highest standards.”
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