Rare Bipartisan Legislation Seeks Ban on Lawmakers Owning Stock

The stock market has long been in bed with politicians from across the spectrum, and all too often, the flagrant lack of remorse from the same, who enrich and gorge themselves on the rise and fall of companies they are charged with regulating, has needed an overhaul for some time. In a rare moment of unity in Congress, a new bill has been introduced, with a number of natural enemies joining forces and aligning their ideologies, just once, on this decidedly poisonous and taboo subject.

The Post Millennial reports: A new bill has been introduced in the House of Representatives that aims to prohibit members of Congress from owning and trading individual stocks, in an effort to prevent any potential insider trading scandals.

The proposed legislation would require lawmakers to place their stocks into blind trusts, which would be managed by an independent trustee who would be responsible for making all investment decisions.

I'm proud to work with my colleagues Rep. @AOC, @RepBrianFitz, and @CongressmanRaja on this important legislation!

Members of Congress are spending their time trading futures instead of securing the future of our fellow Americans. We cannot allow the Swamp to prioritize… pic.twitter.com/KGcyYfWi3D

— Rep. Matt Gaetz (@RepMattGaetz) May 2, 2023

The bill also includes a provision that would prevent lawmakers from serving on the boards of public companies.

The bill is sponsored by Reps. Alexandria Ocasio-Cortez, Matt Gaetz, Brian Fitzpatrick, and Raja Krishnamoorthi, legislators from every spectrum of ideology, united in this cause against the corruption most politicians flaunt in the faces of the very people they were elected to represent.

The bill most likely does not go far enough, as it should outlaw any communique between legislators and whomever is charged with keeping their “blind trust”, but it is a start and has a wide spectrum of support from the outset.

This is a developing story.