Baldwin Introduces Bill Banning Stock Trading by Members of Congress
Bill requires members of Congress and their families to place stock portfolios in blind trusts or divest holdings
86% of Americans support banning stock trading by members of Congress
WASHINGTON, D.C. — U.S. Senator Tammy Baldwin (D-WI) joined a group of her Senate colleagues in introducing legislation to ban stock trading by members of Congress. TheBan Congressional Stock Trading Act would require all members of Congress, their spouses, and dependent children to place their stocks into a blind trust or divest the holding — ensuring they cannot use inside information to influence their stock trades and make a profit. Senator Baldwin has had the management of her financial assets in a blind trust while serving in the U.S. Senate since 2013.
“Elected representatives should not be using confidential information to trade stocks and line their own pockets. It’s just wrong. Our constituents send us to Congress to serve them, not our own financial interest,” said Senator Baldwin. “By adding common-sense guardrails for members of Congress, we can help root out corruption in Washington and ensure that members of Congress are focused on delivering for the American people, not enriching themselves.”
The American peopleoverwhelmingly support this policy, with 86% saying they back the measure, including 88% of Democrats, 87% of Republicans, and 81% of Independents.
The bill was led by Senators Jon Ossoff (D-GA) and Mark Kelly (D-AZ) and also co-sponsored by Senators Reverend Raphael Warnock (D-GA), Michael Bennet (D-CO), Tammy Duckworth (D-IL), Ben Ray Luján (D-NM), and Brian Schatz (D-HI).
Full text of the legislation is available here.
An online version of this release is available here.
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.
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