The bill is the first stock trading legislation set to go before a Senate committee.
A bipartisan group of senators on Wednesday struck a deal on new legislation that bans members of Congress from trading stock.
“Congress should not be here to make a buck,” Hawley said at a Capitol Hill press conference. “There is no reason why members of Congress ought to be profiting off of the information that only they get.”, their spouses and their dependent children, as well as the president and vice president, from buying and selling stocks during their time in office.
Starting March 2027, the bill would prohibit representatives’ spouses and dependent children from trading stocks and require the president, vice president and members of Congress to divest from any covered investments.The penalty for not divesting investments would be either the representative’s monthly salary or 10% of the value of each asset in violation, whichever is higher.
Politics Insider Trading Jon Ossoff Josh Hawley Nancy Pelosi Paul Pelosi Stock Trade
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