“If you want to serve in Congress, don’t come here to serve your portfolio, come here to serve the people,” said a Democrat leading the effort.
By Edward Carver. Published 7-10-2024 by Common Dreams
A small, bipartisan group of U.S. senators on Wednesday announced a proposal to ban trading of individual stocks by members of Congress and certain of their immediate family members, drawing praise from watchdog groups.
Sens. Jeff Merkley (D-Ore.), Jon Ossoff (D-Ga.), Gary Peters (D-Mich.), and Josh Hawley (R-Mo.) brought forth the bill, which would tighten rules on holdings of individual stocks and establish what Merkley described as “huge” penalties for noncompliance—the equivalent of a member’s monthly salary, or 10% of the value of the improper investment, whichever is greater.
Continue reading
