Senate Democrats Reintroduce Bill to Ban Congressional Stock Trading

Senate Democrats led by Jon Ossoff and Mark Kelly have reintroduced the Ban Congressional Stock Trading Act, which would require members of Congress and their families to place stock portfolios in blind trusts or divest holdings to prevent insider trading. The legislation, supported by several Democratic senators and backed by Republican Senator Josh Hawley with similar legislation, aims to restore public trust by banning lawmakers from trading individual stocks while allowing diversified funds and government retirement plans. Public support for such a ban is high, with polls showing over 85% of registered voters favor the restriction, and 43% of Benzinga readers supporting an outright ban on Congressional stock trading. The debate gained further momentum when House Speaker Mike Johnson and former President Donald Trump publicly endorsed banning stock trading by lawmakers. Congressional trading data reveal that some members, including former Speaker Nancy Pelosi’s husband, have engaged in high-volume, high-value stock transactions, raising concerns over conflicts of interest and the use of privileged information. Critics argue that banning stock trading by Congress members is crucial to fixing what’s broken in Washington and ensuring lawmakers do not profit from inside information.