Alexandria Ocasio-Cortez and Matt Gaetz Propose Bill to Ban Stock Trading by Members of Congress
Author: Deborah Ross / 2023-05-03 08:22:35Alexandria Ocasio-Cortez and Matt Gaetz have teamed up to introduce the Ban Conflicted Trading Act, a bill aimed at prohibiting members of Congress and their families from buying and selling individual stocks. The proposed legislation comes in response to concerns about conflicts of interest and insider trading by lawmakers, and would require the use of blind trusts or mutual funds instead. While the bill has drawn support for its push for transparency and accountability, it is expected to face opposition from those who argue it would limit investment opportunities for lawmakers.
Alexandria Ocasio-Cortez and Matt Gaetz have joined forces to introduce a bill aimed at banning members of Congress from trading stocks. The proposed legislation, known as the Ban Conflicted Trading Act, would prohibit lawmakers and their families from buying and selling individual stocks and require them to use blind trusts or mutual funds instead.
The move comes in response to ongoing concerns about potential conflicts of interest and insider trading by members of Congress, particularly following reports of several lawmakers making significant profits from trades. The bill would also require lawmakers to disclose all investment transactions within 45 days.
While the proposed legislation has drawn support from some lawmakers, it is likely to face opposition from those who argue that it is unnecessary or would limit their ability to invest and grow their wealth. However, Ocasio-Cortez and Gaetz have emphasized the need for greater transparency and accountability in government and have called on their colleagues to support the bill.
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