Lawmakers are divided over how to curb their own ability to trade stocks. ylanmui has the details.
, which tracks lawmakers' disclosures, members of Congress and their immediate family bought and sold $515 million in stocks and other assets over the past year. Analysis by Capitol Trades showed the most active sectors were tech, energy and telecom and media.Lawmakers with the most activity included Reps. Josh Gottheimer , Rohit Khanna and ScottMany of Gottheimer's holdings were listed as joint assets.
Sen. Jon Ossoff questions Treasury Secretary Janet Yellen and Federal Reserve Chairman Powell during a Senate Banking, Housing and Urban Affairs Committee hearing on the CARES Act, at the Hart Senate Office Building in Washington, DC, September 28, 2021.Democratic Rep. Abigail Spanberger of Virginia said she was dismayed by the allegations of insider trading on the Hill. She vented her frustration alongside Rep. Chip Roy, R-Texas, while on the House floor.
Other lawmakers have called for tighter rules that would still allow members of Congress to own stock. The Ban Conflicted Trading Act, led by Sen. Jeff Merkley, D-Ore., would prohibit buying and selling while in office, but lawmakers could still opt to hold on to their assets. Members could also choose to divest up to six months after their election.
Members are also supposed to disclose transactions within 45 days, but the requirement is rarely enforced. The penalty for a first-time offense is $200. An investigation by Business Insider found that 52 lawmakers had violated the rules last year.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
McCarthy considers banning stock trades in Congress if Republicans win majorityHouse Minority Leader Kevin McCarthy is considering limiting or prohibiting members of Congress from trading individual stocks while in office if GOP wins the majority in November, a source told FOX Business.
Read more »
Dems Urged to Act First as GOP Mulls Ban on Lawmaker Stock Trades'If Democrats were smart or cared about winning, they'd ban congressional stock trading by the end of the week and take this off the table.'
Read more »
Stocks Making the Biggest Moves Midday: General Electric, Rivian, Illumina and MoreThese are the stocks posting the largest moves in midday trading.
Read more »
Omicron is supercharging the COVID vaccine booster debateThe data are growing that COVID booster jabs enhance protection — but their durability, impact and ability to quash the new variant are unknown
Read more »
Gov. Wolf says strategy to fight COVID-19 features vaccines, not shutdowns: ‘We’re in a better place’The answer was reflective of how limited the governor is now, the result of fierce pushback by GOP lawmakers and pandemic-weary residents and business owners.
Read more »
It's time to choose, Biden tells Republicans in fiery voting rights speechPresident Joe Biden on Tuesday made a full-throated appeal for U.S. voting rights legislation stalled in Congress, saying Democratic lawmakers should rewrite Senate rules to overcome Republican opposition.
Read more »