Will Congress Ever Ban Itself from Owning Stock? #Shorts

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Would lawmakers in Congress ever ban themselves from trading stocks? For the last decade, Congress members and their spouses have been required to disclose when they buy and sell stocks under the STOCK Act, but the law has a mixed track record. A recent investigation by Insider found that “dozens of lawmakers and 182 senior congressional staff” have violated the law. A new poll from the Data for Progress found that 67% of voters support a ban, and that number rose to 74% when the respondents were given arguments both for and against the idea. And it turns out plenty of lawmakers actually agree with voters. Earlier this month, Democratic Senators Jon Ossoff and Mark Kelly introduced legislation that would effectively ban lawmakers as well as their spouses and dependents from buying and selling stocks. The same day, Republican Senator Josh Hawley rolled out a very similar bill. House Speaker Nancy Pelosi expressed opposition to changing the rules last month, but after growing backlash and pressure, she backtracked, saying: “if members want to do that, I’m okay with that.”

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Produced by: Cory Ray, Lili Stenn, Philip DeFranco
Edited by: Maxwell Enright
Art Department: William Crespo
Writing/Research: Lili Stenn, Philip DeFranco
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