Pelosi's support of bill banning congressional stock trading clears path forward
ABC News
Democrats heading a long “uphill battle” to ban individual stock ownership among members of Congress.
Democrats trying to ban individual stock ownership among members of Congress say they finally have enough support to push forward a bill following its hard-won backing by House Speaker Nancy Pelosi.
The Ban Conflicted Trading Act, Democrats said during a Thursday press call, will restore public trust in members of Congress at a time when over 70% of voters support a resolution to curb stock trading for lawmakers and top staff who might put their own interests above the public's.
The legislation gained traction this week after Pelosi, D-Calif., on Wednesday announced her support for the measure following months of resistance.
"When we get caught up and even have the ability to individually trade stock, it erodes public trust in government. And right now, whether it is media, government, or any sort of institution, we are having a crisis of public faith in many institutions that are very critical to the well-being of society," Rep. Alexandria Ocasio-Cortez, D-N.Y., said Thursday on the virtual call, joined also by Sens. Jeff Merkley, D-Ore., Sherrod Brown, D-Ohio, and Reps. Raja Krishnamoorthi, D-Ill., and Joe Neguse, D-Colo.
