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One Democrat senator, the youngest in the Senate, has come against House Speaker and California Rep. Nancy Pelosi on her recent comments about stock trading.
Democrat Georgia Sen. Jon Ossoff wants to ban members of Congress from being able to trade stocks when they are in their elected positions, The New York Post reported .
The Ossoff ethics bill, which the Democratic freshman Senator plans to introduce once he finds a Republican co-sponsor, would crack down on conflicts of interest by making it illegal for lawmakers and their families to trade stocks while in office, a Washington, D.C. source close to the situation said.
It would also likely require lawmakers put their assets in blind trusts — a step that the 34-year-old Ossoff completed himself months after being elected in January 2021.
No Senate Republicans appear to have publicly come out against congressional stock trades, so Ossoff may have trouble finding a co-sponsor in the Senate. But Republican support in the House is more likely, since several GOP House members including Texas Reps. Michael Cloud and Chip Roy have come out against the practice.
Another proposal to curb Congress trades, the Ban Conflicted Trading Act, was introduced in the Senate in March by four Democratic Senators including Sen. Jeff Merkeley of Oregon and Ossoff’s fellow Georgia freshman Raphael Warnock. It also has an accompanying bipartisan House version backed by Rep. Alexandria Ocasio-Cortez (D-NY) and Roy, among other Democrats and Republicans.
But that legislation would only ban members of Congress and their staff from trading, which means that the husband of the House Speaker would be allowed to continue to trade stocks.
“As Speaker Pelosi’s recent transactions make clear, decisions made for the people should be separate than decisions made for personal enrichment,” Republican Rep. Chip Roy said.“These lawmakers […]
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