U.S. senators from both parties announced on Wednesday that they have drafted a bill to ban stock trading in Congress. This is such an important issue that Blaze Media Blaze Originals Documentary Earlier this year, I wrote an article about the subject, “Bought and Paid: How Politicians Get So Rich,” in an effort to pressure federal lawmakers and inform our audience.
on the other hand, STOCK MethodWhile the bill, passed in 2012, technically requires lawmakers to be more transparent about their own stock trading as well as that of their spouses, it has done little to curb the seemingly widespread shady stock trading by lawmakers of both parties exposed by “Bought and Paid For.”
A University of Maryland poll found that 85% of Americans want to ban members of Congress from trading in the stock market.
now, 4 Senators Democrat Sens. Jeff Merkley of Oregon, Jon Ossoff of Georgia, Gary Peters of Michigan and Josh Hawley, a Republican from Missouri, are drafting new legislation with stiffer penalties that could finally resolve the issue once and for all.
Their plan, called the Ethics Act, if passed, would ban lawmakers from buying or selling stocks or bonds. Similar investments The bill will go into effect 90 days after it is enacted. In addition, after March 2027, spouses and close relatives of lawmakers will also be prohibited from purchasing stocks.
Violation of the law will be punishable by a fine of one month’s salary or 10% of the value of each asset, whichever is greater.
A University of Maryland poll found that a whopping 85% of Americans want to ban members of Congress from trading stocks. Given the national consensus on the issue and the bipartisan nature of the bill, supporters of the ETHICS Act are hopeful that the bill may actually pass, despite election season controversy and the failure of similar legislative efforts in the past.
The Senate Homeland Security and Governmental Affairs Committee is already scheduled to begin considering the bill on July 24.
Meanwhile, members of Blaze Media are already celebrating the bill as a major win since “Bought and Paid For” was released in April. James PoulosThe “Bought and Paid For” host, executive editor of Blaze Media and editor-in-chief of the RETURN division, is especially heartened by what’s happened.
“Members of Congress can get rich on stock trades thanks to their special access to information ordinary Americans don’t have, and many are doing just that because wrongdoing is so hard to prove in court and the current rules of Congress are so lax,” he told The Blaze News.
“Americans across party lines agree that this practice must end, and a crackdown has bipartisan support in Congress. It’s encouraging to see a new group of senators taking a fresh shot at a long-awaited solution.”
You can watch the trailer for “Bought and Paid For” below, and to watch the full 30-minute program and other similar Blaze Originals documentaries, click here. here become Blaze TV Subscriber.
Trailer: How Politicians Get Rich | Blaze OriginalsYoutube
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