The Hill
House Administration Committee Chair Bryan Steil (R-Wis.) introduced a bill Monday that would allow members of Congress to hold onto stocks they already own but ban them from buying new ones.
The bill, dubbed the Stop Insider Trading Act, prevents lawmakers, their spouses and their dependent children from “purchasing a security issued by a publicly traded company,” according to a press release.
It also requires them to file a public notice with the clerk of the House at least seven days before they choose to sell an existing stock.
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This is unenforceable, the grifting politician will simply have the stock listed in another family member’s name. What needs to occur are through and independent auditing of representative finances for up to five years post departing office. Today, AOC and Omar being two, assume their elected office in debt, some like AOC carrying student loan debt. Then by year four or five they have accounts in excess of millions. Devoid financial and under the table kickbacks, the asset accrual with a salary of $185,000 per year is impossible.