A bipartisan bill to ban lawmakers from trading stocks is unveiled in the House

"A bipartisan group of House members has unveiled new legislation that would ban lawmakers from trading individual stocks. For more than a decade, a series of bills have been proposed to address such trades, but differences about the details and a lack of support from top congressional leaders stalled past reform efforts. But in announcing the new bill on Wednesday, a group of leading conservatives and progressives said the issue is ripe for action in 2025 and that they had agreed on a new plan."

"The legislation would require lawmakers to sell all individual stocks within 180 days. Newly elected members of Congress would also have to divest of individual stock holdings before being sworn in. Members who fail to divest would face a fine equivalent to 10% of the value of the stock. The proposed ban extends to spouses and dependent children. Unlike past efforts, the legislation was developed by a working group of sponsors of various reform plans who spent months trying to consolidate support behind one bill."

A bipartisan group of House members proposed legislation banning lawmakers from trading individual stocks and requiring sale of holdings within 180 days. Newly elected members must divest before being sworn in, and members who fail to divest would face fines equal to 10% of the stock's value. The proposed ban extends to spouses and dependent children. Sponsors consolidated various reform plans into a single bill after months of negotiation. Concerns about members using nonpublic committee information for trades and potential conflicts of interest motivated the proposal. Key congressional and executive leaders have expressed support for a ban.

Read at www.npr.org