#CongressTradingBan Efforts to ban stock trading by members of the U.S. Congress have gained significant momentum, driven by bipartisan support and public demand for greater transparency and accountability.
Key Developments
Bipartisan Legislation Introduced: In July 2024, Senators Jon Ossoff (D-GA), Josh Hawley (R-MO), Jeff Merkley (D-OR), and Gary Peters (D-MI) introduced a bipartisan bill to prohibit members of Congress, their spouses, and dependent children from buying or owning individual stocks. The legislation mandates the divestment of existing holdings within 90 days of enactment and imposes fines exceeding $10,000 for violations.
Committee Approval Achieved: On July 24, 2024, the Senate Homeland Security and Governmental Affairs Committee approved the bill with an 8–4 vote, marking the first time such legislation has advanced from a Senate committee.
House Initiatives: In January 2025, Representatives Marie Gluesenkamp Perez (D-WA) and Zach Nunn (R-IA) introduced the "No Corruption in Government Act," aiming to ban stock trading by members of Congress and their spouses, end automatic annual pay raises, and extend the lobbying ban for former members.
Public Support and Context
Public opinion strongly favors restricting stock trading by lawmakers. A University of Maryland poll indicated that 85% of Americans support such a ban. This sentiment has been amplified by recent events, such as former President Donald Trump's announcement of a 90-day suspension of significant tariffs, which led to a substantial market surge. Critics accused Trump of potentially manipulating the market for personal or political gain, renewing calls for stricter regulations on congressional stock trading.