There’s Finally Momentum to Stop Stock Trading in Congress
Channel: That's All I Have To Say About That
Date: 2022-02-17

Patreon: https://www.patreon.com/thatsall

Bills Summarized:
Ban Congressional Stock Trading Act

Sponsors: 
Sen. Jon Ossoff (D-GA) and Sen. Mark Kelly (D-AZ)

Covered Persons:
Legislators, their spouses, and dependent children

Covered Asset Requirements:
Must put their stocks, mutual funds, and government bonds into a blind trust managed by an independent party for the duration of their congressional career

Punishment:
A fine equivalent to the member’s entire congressional salary


Banning Insider Trading in Congress Act

Sponsor:
Sen. Josh Hawley (R-MO)

Covered Persons:
Legislators and their spouses

Covered Assets Requirements:
Cannot possess or trade options or individual stocks

Punishment:
Fine determined by an ethics committee


Ethics Reform Act
Sponsor:
Sen. Ben Sasse (R-NE)

Covered Persons:
Members of congress

Covered Asset Requirements:
Cannot possess or trade options or individual stocks

Punishment:
A mix and match combination of five years in prison and a million dollar fine. Up to the judge.


Ban Conflicted Trading Act:

Sponsors:
Rep. Raja Krishnamoorthi (D-IL) and currently has 51 co-sponsors, ranging from Rep. Alexandria Ocasio-Cortez (D-NY) to Rep. Matt Gaetz (R-FL)

Covered Persons:
Members of Congress and their senior Staff

Covered Asset Requirements:
Cannot actively trade stocks

Punishment:
Punishment, a fine equivalent to 10% of the value of the traded stocks


Congressional Stock Ownership Act
Sponsors:
Sen. Elizabeth Warren (D-MA) and Sen. Steve Daines (R-MT)

Covered Persons:
Lawmakers and their spouses

Covered Asset Requirements:
Cannot possess individual stocks

Punishment:
A $50,000 fine