{"id":1923077,"date":"2023-05-03T00:11:00","date_gmt":"2023-05-03T04:11:00","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bipartisan-coalition-introduces-bill-to-prohibit-members-of-congress-from-trading-stocks\/"},"modified":"2023-05-03T00:13:49","modified_gmt":"2023-05-03T04:13:49","slug":"bipartisan-coalition-introduces-bill-to-prohibit-members-of-congress-from-trading-stocks","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bipartisan-coalition-introduces-bill-to-prohibit-members-of-congress-from-trading-stocks\/","title":{"rendered":"Bill introduced to ban Congress members from stock trading."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbipartisan-coalition-introduces-bill-to-prohibit-members-of-congress-from-trading-stocks%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1923077&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Bipartisan Bill Introduced to Prohibit Members of Congress from Trading Stocks<\/h2>\n<div class=\"post_content\">\n<div class=\"aplayer_app\" data-source=\"https:\/\/vs1.youmaker.com\/assets\/2023\/0502\/2627edcf-667e-438e-97fd-47aa6f664695\/audio.mp3?length=3136941&#038;duration=261\"><\/div>\n<p>A group of bipartisan members of Congress have introduced a bill that would prohibit members from trading stocks. This is a significant move towards restoring faith in government and ensuring that members of Congress are not using their positions for personal financial gain.<\/p>\n<h3>The Bipartisan Restoring Faith in Government Act<\/h3>\n<p>The bill, known as the Bipartisan Restoring Faith in Government Act, would restrict trading and ownership of certain financial instruments by members of Congress and their spouses and dependents. This includes securities, security futures, commodities, and any economic interest acquired through synthetic means. However, the bill would not prohibit members of Congress from <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bipartisan-coalition-introduces-bill-to-prohibit-members-of-congress-from-trading-stocks\/\" title=\"Bill introduced to ban Congress members from stock trading.\">trading widely held investment funds registered<\/a> as a management company under the Investment Company Act, a U.S. Treasury bill, note, or bond, a State or local government bond, or any investment under the Thrift Savings Plan.<\/p>\n<h3>Compliance Under the Act<\/h3>\n<p>To be in compliance under the act, members of Congress, their spouses, and their dependents would have to divest their investments by selling or placing them in an acceptable blind trust. Those who acquire investments forbidden under the act, aside from purchasing them, after enactment would have 90 days from acquisition to sell the investment. The bill would give members of Congress, their spouses, and their dependents 90 days from enactment of the legislation to divest investments not allowed under the act by either selling them or putting them in a blind trust.<\/p>\n<h3>Approval of Blind Trusts<\/h3>\n<p>Qualifying blind trusts would need to be approved by the relevant congressional ethics offices. Were the members of Congress or others who are covered under the act to get approval, they would need to divest the trust no later than six months after setting up the trust. Additionally, those under the act would have to certify to the applicable supervising ethics office on an annual basis that the trustee has not provided any information on the trust\u2019s assets or transactions to the applicable covered individual and may not have a close personal or business relationship with the applicable covered individual.<\/p>\n<h3>Bipartisan Support<\/h3>\n<p>Members of Congress from different factions have united on the issue of banning members, their spouses, and their dependents from stock trading. \u201cThe fact that members of the Progressive Caucus, the Freedom Caucus, and the Bipartisan Problem Solvers Caucus, reflecting the entirety of the political spectrum, can <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/md-gov-hogan-urges-biden-lawmakers-to-work-together-on-covid-19-relief-legislation\/\" title=\"Md. Gov. Hogan urges Biden, lawmakers to work together on COVID-19 relief legislation\">find common ground<\/a> on key issues like this should send a powerful message to America,\u201d said Rep. Brian Fitzpatrick (R-Pa.).<\/p>\n<p>Rep. Alexandria Ocasio-Cortez (D-N.Y.), a member of the Congressional Progressive Caucus, Rep. Matt Gaetz (R-Fla.), a member of the Freedom Caucus, and Rep. Fitzpatrick, a member of the Bipartisan Problem Solvers Caucus, have come together to introduce this bill. It is a significant step towards ensuring that members of Congress are held to the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-already-having-to-deal-with-ethical-headache-created-by-kamala-harris-niece-report\/\" title=\"White House Already Having To Deal With \u2018Ethical Headache\u2019 Created By Kamala Harris\u2019 Niece: Report\">highest ethical standards<\/a> and that the public can have faith in their elected officials.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A bipartisan group in Congress introduced a bill on May 2 that would prohibit members from trading stocks. Reps. Matt Gaetz (R-Fla.), Alexandria Ocasio-Cortez (D-N.Y.), Brian Fitzpatrick (R-Pa.), and Raja Krishnamoorthi (D-Ill.) introduced the Bipartisan Restoring Faith in Government Act, which would \u201crestrict trading and ownership of certain financial instruments by members of Congress and<\/p>\n","protected":false},"author":1797,"featured_media":1923078,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[7008,4402,5615,4359,3855],"class_list":["post-1923077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times","tag-ban","tag-congress","tag-introduced","tag-stock","tag-trading"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1923077","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1797"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1923077"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1923077\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1923078"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1923077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1923077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1923077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}