(FeaturedNews.com) – House lawmakers have put forth the Bipartisan Restoring Faith in Government Act, which would prohibit Congress members and their families from stock trading.
The bill was introduced by a group of lawmakers including Rep. Alexandria Ocasio-Cortez (D-N.Y.), Reps. Brian Fitzpatrick (R-Pa.), Raja Krishnamoorthi (D-Ill.), and Rep. Matt Gaetz (R-Fla.). The bill would prohibit congress members, their spouses, and other dependents from trading. This is the latest in a series of legislation that has been introduced recently looking to target the issue.
While so far they have not been successful in fully banning members of Congress from stock trading, the issue has gained a lot of attention over the last few years. This rise in prominence was led by a number of incidents, including when in 2022, then-Speaker Nancy Pelosi’s (D-Calif.) husband’s had sold shares of a computer chip maker worth millions right before the House took a vote on a bill that would decide if they would focus on domestic chip production.
Ocasio-Cortez has argued that stock trading by members of Congress who have access to classified information diminishes the trust that the general public has in the government. These remarks were echoed in Gaetz’s statement as he stated that Congress members should be focusing on helping secure the future of Americans and not on trading futures. He added that investing in stocks should not be coming above investing in the country.
Last year, there were a number of other bills introduced targeting the issue, however, all of those bills had previously been unable to gain the necessary traction to pass through Congress.
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