Official White House announcements and legislative records

Bipartisan Senators Reach Deal on ETHICS Act to Ban Congressional Stock Trading

Jul 10, 2024, 04:43 PM

A bipartisan group of U.S. senators has reached a deal on legislation to ban members of Congress from trading individual stocks. The bill, known as the ETHICS (Ending Trading and Holdings in Congressional Stocks) Act, aims to prevent lawmakers from profiting from insider information and is set to be marked up in committee on July 24. The proposed legislation, led by Senators Jon Ossoff, Jeff Merkley, Gary Peters, and Josh Hawley, includes provisions to ban stock trading by Congress members 90 days after the bill is signed into law. Additionally, it will prohibit spouses and dependent children from trading stocks starting in March 2027. The bill also requires lawmakers, the President, and the Vice President to divest from certain assets by 2027, with stiff penalties for violations. The initiative has garnered significant bipartisan support, with 20 lawmakers urging House Speaker Mike Johnson to bring the bill to the floor for a vote.