Bipartisan Senators Reach Deal on Congressional Stock Trading Ban, Markup Set for July 24

Jul 10, 2024, 03:37 PM

A bipartisan group of U.S. senators has reached a deal to ban members of Congress from trading individual stocks. The legislation, led by Senators Jon Ossoff, Jeff Merkley, Gary Peters, and Josh Hawley, aims to prevent lawmakers from profiting off insider information. The bill will be marked up in committee on July 24. The proposed ban includes restrictions on stock trading by Congress members, their spouses, and dependent children. Trading by Congress members would be prohibited 90 days after the bill is signed into law, while trading by spouses and children would be banned starting in March 2027. The initiative has garnered support from a bipartisan group of 20 House Representatives, including Reps. Jared Golden and Brian Fitzpatrick, who are urging House Speaker Mike Johnson to bring the legislation to a vote. Senator Jeff Merkley stated, "We must be here to serve the public, not our portfolios."