A Bipartisan group of senators plans to announce a deal to ban Congress from trading stocks today in an afternoon press conference. Andrew Desiderio, a Senior congressional reporter at PunchBowl, reported the finding in a post to X Wednesday morning. According to the source, the deal will be marked up in committee on July 24.
According to Desiderio, the press conference will be led by Senators Jeff Merkley, Jon Ossoff, Josh Hawley, and others. The proposal for banning Congress members from trading stocks isn’t new. Most recently at the end of 2023, US Congressman Ro Khanna reintroduced the bill that would effectively ban stock trading in Congress.
Throughout the past two years, the US government has sought to introduce bills that challenge the status quo of elected officials. Among them was a landmark piece of legislation that sought to restrict certain stock trading activities from elected officials. Now, that bill has taken another step forward, with a deal set to be announced.
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A previous bill proposed in the house involved officeholders trading stocks. However, this new proposal by senators builds upon those restrictions by banning congress members from trading stocks. The ban previously was not inclusive of spouses and children.
More on the conference and details of the ban will be provided as it’s announced.