A group of House Democrats has introduced legislation that would ban the president, vice president, members of Congress and federal candidates, along with their spouses and dependents, from trading individual stocks.
The proposal, called the No Getting Rich in Congress Act, was introduced by Reps. Haley Stevens of Michigan, Derek Tran of California, Eric Sorensen of Illinois and Andrea Salinas of Oregon.
The bill aims to address long-standing concerns about potential conflicts of interest in government.
In addition to banning individual stock trades, the legislation would also prohibit public officials from buying or selling futures, commodities and cryptocurrency.
It includes reporting requirements and penalties for violations, and extends ethics restrictions to spouses and dependents.
“The American people deserve leaders who are working for them, not for their stock portfolios, not for corporate board seats, and not for foreign adversaries,” Stevens said. “The No Getting Rich in Congress Act draws a clear line: public servants must put their communities first, not profit.”
Lawmakers from both parties have proposed similar reforms in recent years, though none have passed Congress.
The new bill follows earlier efforts that sought to restrict lawmakers’ stock trading but faced disagreements over whether the ban should also apply to the executive branch.
