Did you know that members of Congress are allowed to freely trade stocks of companies in which they have oversight, access to privileged information, or even might be funding with lucrative government contracts?
In March 2021, a bill was introduced in the House that would stop lawmakers from purchasing or selling certain stock investments.
The Ban Conflicted Trading Act (H.R 1579) would prohibit members of Congress from trading individual stocks completely. The resurgence of this issue is gaining momentum with bipartisan support. Republicans like Sen. Josh Hawley and Rep. Chip Roy as well as Democrats like Sen. Jon Ossoff and Rep. Rashida Tlaib support banning Congress from owning stocks.
As long as Congress can trade stocks while in office, continued conflict of interests ensue, allowing elected officials to participate in what is essentially insider trading.
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