(Washington Insider Magazine)-Are members of Congress banned from trading stocks?
Well, the possibility of Congress stock trade laws may become a reality the new bill that just came down from the Democrats. Members of Congress will only have a short time before their next legislative session to decide on whether it Congress stock trade laws should be published to protect the interests of the free market and their constituents.
In this proposed Congress stock trade laws bill, members of Congress have the potential to be banned from trading stocks in the future.
This is to avoid any future conflicts of interest that may cause some questioning of Congress. To learn more about congress and potential conflicts of interest, click here.
This new bill that has been proposed by the Democrats, led by Speaker Pelosi, is known as the “Combatting Financial Conflicts of Interest in Government Act.” This was created in an attempt to reduce the accusations that members of congress had conflicts of interest.
This new Congress stock trade laws bill would include the members themselves, along with their spouses and children, from trading stock and cryptocurrency. They can utilize other assets such as mutual funds and exchange-traded funds, including, but limited to, bonds and notes. To learn more about the bill, click here for more information.
Their conflict of interest came from supposed knowledge of the stock market that members of the public did not have access to. This matters, as this would give an unfair advantage to these members when dealing with the stock market. Many senators have been involved in these accusations from both sides, making it a widespread issue.
This bill will be decided on when they gather Wednesday through Friday. This legislative session has many key bills that will be decided on making it one of their most important sessions this year.
But, as with any set of bills, there is always some resistance from the other side. This makes it very uncertain whether this bill would pass and what the future looks like for members of Congress.
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