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Some in Congress seek to ban US lawmakers from trading stocks

Mount Equity Group Tokyo Japan > News > Markets > Some in Congress seek to ban US lawmakers from trading stocks

Washington: Capitol Hill has begun to debate whether to ban US lawmakers from trading stocks, but despite some rare bi-partisan unity on the question it is far from settled.

Legislation introduced earlier this month by Democratic senators Jon Ossoff of Georgia and Mark Kelly of Arizona would require members of Congress, their spouses and dependent children to place their investments in a blind trust.

“Members of Congress should not be playing the stock market while we make federal policy and have extraordinary access to confidential information,” Ossoff said.

Republicans are also active on the issue, with Senator Josh Hawley of Missouri introducing similar legislation to Ossoff and Kelly’s and House Minority Leader Kevin McCarthy saying he could push for a ban on stock trading if the Republicans take control in the November 2022 midterm elections.

“I think any member of Congress who actively trades stock is crazy,” Republican…

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