WASHINGTON, D.C. — Sen. Kirsten Gillibrand introduced a bill to ban congressional stock trading. The “Restore Trust in Congress Act,” introduced alongside Republican Sen. Ashley Moody of Florida, aims to prohibit stock ownership and trading for members of Congress and their immediate family members.
“While hardworking families are struggling to put food on the table, some members of Congress are getting rich playing the stock market, often with information the average Americans do not have. It’s just not right,” Gillibrand said.
“It is fundamental to our Republic that members of Congress are focused on our nation and its citizens’ well-being, not how they may financially profit from their positions,” said the senators.
In 2012, the “STOCK Act” was passed to prevent members of Congress from using insider information to buy and sell stocks. However, Gillibrand said it does not go far enough.
News10NBC will continue to monitor developments on this story.
For more information on the legislation, click here to see the actual bill.
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