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House lawmakers have introduced a bipartisan bill to ban stock trading by members of Congress and their families. The Restore Trust in Congress Act aims to address concerns about potential conflicts of interest and restore public trust in government. The bill, introduced by Representatives Seth Magaziner and Chip Roy, prohibits members of Congress, their spouses, and dependent children from trading individual stocks and similar financial assets.
The proposal has garnered support from a diverse group of lawmakers, including Representatives Alexandria Ocasio-Cortez, Brian Fitzpatrick, and Scott Perry. The bill's introduction follows months of negotiations to consolidate various proposals into a single measure with broad support. According to CNN, House Speaker Mike Johnson has expressed initial support but emphasized the need to finalize the details.
The legislation comes amid growing public demand for ethical reforms in Congress. As Issue One reports, 86% of Americans favor banning stock trading by elected officials. The bill's supporters argue that it is essential to eliminate the appearance of corruption and ensure that lawmakers prioritize the public interest over personal gain.
The bill's introduction coincides with a similar effort in the Senate led by Senator Josh Hawley. While the Senate bill also targets the executive branch, the House version focuses solely on Congress. Lawmakers hope to move the bill through the legislative process quickly, with some indicating a willingness to use alternative measures to force a vote if necessary.