A movement is underway to ban lawmakers from trading stocks in office
Lawmakers are exploring legislation to prevent members of Congress from trading stocks while in office after intense public outcry stemming from several scandals.
The issue received widespread attention during the onset of the pandemic, when Sen. Richard Burr (R-N.C.) and others were accused of unloading stocks as COVID-19 ravaged the U.S. economy.
Pressure to pass a bill ramped up again in late 2021 after Speaker Nancy Pelosi (D-Calif.) defended the practice. She has since expressed interest in supporting a bill to restrict trading.
Large majorities of Democratic, Republican and independent voters support a stock trading ban, an issue that could garner attention ahead of the 2022 midterms. Some Democrats are hoping to pass a bill before November, while Republican leaders have suggested that they could tackle the issue if they win control of Congress.
Several bipartisan bills surrounding the issue are circulating around Congress. While some focus on lawmakers and their spouses, others ban stock trades by lawmakers and their senior congressional staffers.
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