Official White House announcements and public records

Biden Endorses Ban on Congressional Stock Trading Amid Bipartisan Proposal

Dec 17, 2024, 06:59 PM

President Joe Biden has endorsed a ban on congressional stock trading, stating in an interview with A More Perfect Union that 'nobody in the Congress should be able to make money in the stock market while they're in the Congress.' This marks a significant shift in his stance, as he had previously refrained from taking a position on the issue, leaving it to Congress to decide. The interview, conducted by Faiz Shakir, a political adviser for Sen. Bernie Sanders, was published by the pro-labor advocacy and journalism organization. Biden's comments come as a bipartisan proposal to ban stock trading by members of Congress and their families has been introduced but not yet voted on. The issue has been a point of contention on Capitol Hill, with some lawmakers and the public expressing concerns over potential insider trading and conflicts of interest.