Truthout - February 10, 2022
On Wednesday, a bipartisan, bicameral group of legislators introduced a bill that would ban members of Congress and their spouses from owning and trading stocks.
The Bipartisan Ban on Congressional Stock Ownership Act is the first bipartisan stock trading ban to be introduced in the Senate. The bill was introduced by Senators Elizabeth Warren (D-Massachusetts) and Steve Daines (R-Montana) and Representatives Pramila Jayapal (D-Washington) and Matt Rosendale (R-Montana). Two Senate Republicans have also cosponsored the bill.
The proposal goes further than previous bills, forcing members of Congress and their spouses to divest from all stocks other than widely held, diversified investment funds like mutual funds. Such investments could still be traded as long as there are no conflicts of interest. If members are found violating the law, they would be fined up to $50,000 per infraction. ...
Read full report at Truthout