Pelosi has changed course on the bill she previously voiced her opposition to.
By Sharon Zhang, Truthout
Long-awaited legislation banning members of Congress from being able to trade individual stocks is ready to come to a vote as soon as this month, House Speaker Nancy Pelosi (D-California) said in her weekly news briefing on Wednesday.
Lawmakers have been discussing the legislation for months and made some revelations on Wednesday morning, Pelosi said. “We believe we have a product that we can bring to the floor this month,” she said, which she characterized as “exciting.”
It’s unclear what’s in the bill or how much support it will have from Congress, though the general idea does appear to have unusual bipartisan support. In the past year or so, lawmakers have introduced a wide variety of bills on the topic, all containing some form of a ban.
A ban on stock trading could go far in preventing corruption in Congress, with advocates hoping that it will help to prevent lawmakers from directly profiting from legislative decisions. Though there are regulations aimed at preventing stock-related conflicts of interest and increasing financial transparency for Congress members, such laws are often unevenly enforced or are weak enough that they still erode public trust in lawmakers.
Recent Posts
Nobel-Winning Economist Calls For Climate Tax On Billionaires
April 29, 2024
Take Action Now And she called for the money to be sent directly to the world’s most climate-vulnerable people. by Arielle Samuelson, Heated……
Backroom Dealing Is Driving Right-Wing Abortion Bans
April 29, 2024
Take Action Now As state supreme courts consolidate power and corporate money, shoddy oversight allows justices to hide their financial conflicts of…
Students Beat The Bold Marauder — Ceasefire Summer, Education Summer, Freedom Summer, Or Liberation Summer?
April 29, 2024
Take Action Now With summer approaching, what will happen to the current encampments that seek an end to ties to genocide? By Michael Albert The…
Debt Dollars – The Unused Leverage
April 29, 2024
Take Action Now U.S. Treasuries are debt securities issued by the U.S. Department of the Treasury (USDT), the national treasury and finance…