Summary
A bipartisan group in the U.S. House of Representatives introduced a bill to prevent lawmakers from trading individual stocks. The bill aims to stop conflicts of interest where lawmakers might use inside information for personal gain. Lawmakers would need to sell their stocks within 180 days or face penalties.
Key Facts
- The new bill seeks to ban members of Congress from trading individual stocks.
- It was introduced by both Republican and Democrat lawmakers.
- Lawmakers must sell their stock within 180 days if the bill becomes law.
- Newly elected members must sell their stock before taking office.
- If lawmakers don't comply, they could be fined 10% of the stock's value.
- The ban also applies to spouses and dependent children of lawmakers.
- The bill has support across different political views in Congress.
- The legislation aims to address concerns about lawmakers using insider information for personal financial gain.
