A coalition of government watchdog and advocacy groups sent a letter to Democratic leaders, urging them to take action to ban members of Congress from trading individual stocks.
A coalition of government watchdog and advocacy groups sent a letter to Democratic leaders on Tuesday, urging them to take action to ban members of Congress from trading individual stocks, a move the organizations say is crucial to protecting democracy and preserving Congress’s legitimacy.
“We are at a critical juncture in our nation’s history. The steady stream of revelations that members of Congressbasic financial conflict of interest laws,” the groups wrote. “We urge you to lead the way in passing these common sense, popular policies to ensure that members of Congress act in the interest of the people they serve, rather than their own financial interest.”
The groups asked Pelosi and Schumer to commit to bringing a stock ban to a vote in early September. Lawmakers have introduced several versions of a congressional stock ban over the past months, and the groups say that a strong and effective ban would include three key components: it would prohibit lawmakers from trading individual stocks, include their spouses and dependent children in the ban, and create a clear enforcement mechanism that will actually compel lawmakers to comply.
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