Senators Unite to Propose Lawmaker Stock Trading Ban

Senators Unite to Propose Lawmaker Stock Trading Ban

A bipartisan group of Senators has introduced the "ETHICS Act," a proposal aimed at banning members of Congress, their spouses, and dependent children from trading individual stocks. The act would prohibit lawmakers and their families from altering their existing stock portfolios by March 31, 2027, and would immediately halt the purchase of new individual stocks.

Under the current law, lawmakers must disclose trades exceeding $1,000 within 45 days, but critics argue this requirement is inadequate. The ETHICS Act seeks to address these concerns by mandating that, starting with the next session of Congress in 2027, lawmakers divest from any individual stock holdings. The bill also proposes monthly fines for violations and an increased penalty for failing to report transactions to a public database.

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