Senators launch a cross-party effort to end stock trading by lawmakers
ABC News • • general
Key Points:
- Senators Kirsten Gillibrand (D-NY) and Ashley Moody (R-FL) are introducing bipartisan legislation to ban members of Congress and their immediate families from trading or owning individual stocks, aiming to address public concerns about conflicts of interest.
- The bill would require lawmakers to divest individual stock holdings within 180 days of enactment and prohibit trading in certain other financial assets, though it exempts the president and vice president, a point that has drawn some criticism.
- The legislation builds on previous proposals, including a House bill with 125 cosponsors, but contrasts with an alternative House Republican-backed bill that critics say is less stringent, allowing existing stock holdings and only requiring advance notice before sales.
- Efforts to restrict stock trading by
