Legislation to Ban Congressional Stock Trading
Rep. Mark Alford is introducing legislation to ban congressional stock trading, following Sen. Josh Hawley's 'PELOSI Act'. President Donald Trump has endorsed the ban. Democrats in the House also support the proposal.
Key Points
- Rep. Mark Alford introducing bill to ban congressional stock trading
- Legislation allows investments in diversified mutual funds, ETFs, or U.S. Treasury bonds
- Lawmakers continuing wrongful transactions would have to hand over profits to U.S. Treasury
Pros
- Higher standard of ethics for lawmakers
- Prevention of corruption and insider trading
- Support from President Donald Trump and Democrats in the House
Cons
- Limitation on investment options for lawmakers and their spouses